Nuveen California Quality Municipal Income Fund (NYSE:NAC) Shares Down 0.2% – Should You Sell?

by · The Cerbat Gem

Nuveen California Quality Municipal Income Fund (NYSE:NAC – Get Free Report) dropped 0.2% during trading on Tuesday . The stock traded as low as $11.73 and last traded at $11.7360. Approximately 538,972 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 457,258 shares. The stock had previously closed at $11.76.

Nuveen California Quality Municipal Income Fund Trading Down 0.2%

The stock’s fifty day moving average is $11.86 and its two-hundred day moving average is $11.45.

Nuveen California Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.0735 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend is Monday, December 15th.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wedbush Securities Inc. grew its stake in shares of Nuveen California Quality Municipal Income Fund by 2.7% in the second quarter. Wedbush Securities Inc. now owns 86,319 shares of the company’s stock valued at $964,000 after acquiring an additional 2,300 shares in the last quarter. Intellectus Partners LLC boosted its holdings in Nuveen California Quality Municipal Income Fund by 85.2% in the 2nd quarter. Intellectus Partners LLC now owns 25,000 shares of the company’s stock valued at $281,000 after purchasing an additional 11,500 shares during the period. Mesirow Financial Investment Management Inc. grew its position in shares of Nuveen California Quality Municipal Income Fund by 19.7% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 13,556 shares of the company’s stock worth $151,000 after purchasing an additional 2,229 shares in the last quarter. Bridgewealth Advisory Group LLC bought a new position in shares of Nuveen California Quality Municipal Income Fund during the second quarter worth approximately $434,000. Finally, D.A. Davidson & CO. increased its holdings in shares of Nuveen California Quality Municipal Income Fund by 114.6% during the second quarter. D.A. Davidson & CO. now owns 99,375 shares of the company’s stock worth $1,110,000 after purchasing an additional 53,075 shares during the period.

About Nuveen California Quality Municipal Income Fund

(Get Free Report)

Nuveen California Quality Municipal Income Fund (NYSE: NAC) is a closed-end management investment company that seeks to provide investors with a high level of current income exempt from federal and California state income taxes, with a secondary objective of capital appreciation. The fund primarily acquires a diversified portfolio of municipal securities issued by entities located in California, focusing on investment-grade bonds. These securities typically include general obligation bonds, revenue bonds and other taxable or tax-advantaged instruments that finance public projects such as transportation, education and utilities.

In managing the portfolio, the fund’s investment team applies rigorous credit research to identify issuers with strong balance sheets, stable revenue streams and manageable debt levels.

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