Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock Price Passes Below 50 Day Moving Average – What’s Next?

Nuveen California Quality Municipal Income Fund (NYSE:NAC)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.78 and traded as low as $11.67. Nuveen California Quality Municipal Income Fund shares last traded at $11.7530, with a volume of 646,796 shares changing hands.

Nuveen California Quality Municipal Income Fund Trading Up 0.1%

The firm has a fifty day moving average price of $11.77 and a two-hundred day moving average price of $11.85.

Nuveen California Quality Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a dividend of $0.0735 per share. The ex-dividend date is Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 7.5%.

Institutional Investors Weigh In On Nuveen California Quality Municipal Income Fund

Several large investors have recently bought and sold shares of NAC. Morgan Stanley increased its holdings in Nuveen California Quality Municipal Income Fund by 36.6% in the 4th quarter. Morgan Stanley now owns 5,137,471 shares of the company’s stock worth $60,674,000 after buying an additional 1,376,202 shares in the last quarter. Guggenheim Capital LLC increased its holdings in Nuveen California Quality Municipal Income Fund by 28.6% in the 4th quarter. Guggenheim Capital LLC now owns 2,938,681 shares of the company’s stock worth $34,706,000 after buying an additional 653,333 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Nuveen California Quality Municipal Income Fund by 44.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,994,983 shares of the company’s stock worth $23,561,000 after buying an additional 615,058 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Nuveen California Quality Municipal Income Fund by 53.4% in the 4th quarter. Advisors Asset Management Inc. now owns 1,349,549 shares of the company’s stock worth $15,938,000 after buying an additional 469,939 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Nuveen California Quality Municipal Income Fund by 449.3% in the 4th quarter. Jane Street Group LLC now owns 413,675 shares of the company’s stock worth $4,886,000 after buying an additional 338,370 shares in the last quarter.

Nuveen California Quality Municipal Income Fund Company Profile

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.