Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Shares of Nuveen California Quality Municipal Income Fund (NYSE:NAC) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $11.74 and traded as low as $10.93. Nuveen California Quality Municipal Income Fund shares last traded at $11.0350, with a volume of 1,137,648 shares trading hands.

Nuveen California Quality Municipal Income Fund Trading Up 1.5%

The firm’s fifty day moving average price is $11.74 and its 200-day moving average price is $11.83.

Nuveen California Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.0695 per share. This represents a c) dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Investors Weigh In On Nuveen California Quality Municipal Income Fund

Several large investors have recently made changes to their positions in NAC. Sanctuary Advisors LLC grew its stake in shares of Nuveen California Quality Municipal Income Fund by 2.9% in the first quarter. Sanctuary Advisors LLC now owns 248,657 shares of the company’s stock worth $2,897,000 after purchasing an additional 7,074 shares in the last quarter. NWF Advisory Services Inc. raised its stake in shares of Nuveen California Quality Municipal Income Fund by 20.0% during the first quarter. NWF Advisory Services Inc. now owns 18,490 shares of the company’s stock valued at $215,000 after purchasing an additional 3,085 shares in the last quarter. Whittier Trust Co. lifted its holdings in Nuveen California Quality Municipal Income Fund by 5.5% in the first quarter. Whittier Trust Co. now owns 211,237 shares of the company’s stock worth $2,442,000 after purchasing an additional 10,918 shares during the period. Ascentis Independent Advisors bought a new position in Nuveen California Quality Municipal Income Fund in the 1st quarter valued at about $726,000. Finally, Integrity Wealth Partners LLC bought a new position in Nuveen California Quality Municipal Income Fund in the 1st quarter valued at about $1,118,000.

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.