Nuveen California Quality Municipal Income Fund (NYSE:NAC) Sees Significant Increase in Short Interest

Nuveen California Quality Municipal Income Fund (NYSE:NAC) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 653,909 shares, a growth of 111.8% from the February 26th total of 308,669 shares. Based on an average trading volume of 568,196 shares, the short-interest ratio is currently 1.2 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NAC. Allworth Financial LP boosted its position in shares of Nuveen California Quality Municipal Income Fund by 0.6% in the third quarter. Allworth Financial LP now owns 156,382 shares of the company’s stock worth $1,798,000 after acquiring an additional 863 shares during the last quarter. PFG Investments LLC increased its position in Nuveen California Quality Municipal Income Fund by 0.5% during the fourth quarter. PFG Investments LLC now owns 188,895 shares of the company’s stock worth $2,231,000 after purchasing an additional 872 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in Nuveen California Quality Municipal Income Fund by 1.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 52,725 shares of the company’s stock worth $623,000 after purchasing an additional 939 shares during the period. Van Hulzen Asset Management LLC raised its stake in Nuveen California Quality Municipal Income Fund by 2.0% during the second quarter. Van Hulzen Asset Management LLC now owns 51,950 shares of the company’s stock worth $580,000 after purchasing an additional 1,000 shares during the period. Finally, NWF Advisory Services Inc. boosted its holdings in shares of Nuveen California Quality Municipal Income Fund by 8.1% in the 3rd quarter. NWF Advisory Services Inc. now owns 15,690 shares of the company’s stock valued at $180,000 after purchasing an additional 1,170 shares during the last quarter.

Nuveen California Quality Municipal Income Fund Price Performance

Shares of Nuveen California Quality Municipal Income Fund stock opened at $11.48 on Friday. Nuveen California Quality Municipal Income Fund has a fifty-two week low of $10.35 and a fifty-two week high of $12.25. The business’s fifty day moving average is $11.86 and its two-hundred day moving average is $11.80.

Nuveen California Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a dividend of $0.0735 per share. The ex-dividend date is Friday, March 13th. This represents a c) annualized dividend and a yield of 7.7%.

About Nuveen California Quality Municipal Income Fund

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.