Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock Crosses Below 50-Day Moving Average – Here’s What Happened

Nuveen California Quality Municipal Income Fund (NYSE:NAC)’s stock price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.86 and traded as low as $11.85. Nuveen California Quality Municipal Income Fund shares last traded at $11.8750, with a volume of 338,078 shares changing hands.

Nuveen California Quality Municipal Income Fund Price Performance

The firm has a 50 day moving average price of $11.86 and a 200 day moving average price of $11.66.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be paid a dividend of $0.0735 per share. The ex-dividend date is Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 7.4%.

Institutional Trading of Nuveen California Quality Municipal Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley boosted its stake in shares of Nuveen California Quality Municipal Income Fund by 36.6% in the fourth quarter. Morgan Stanley now owns 5,137,471 shares of the company’s stock worth $60,674,000 after acquiring an additional 1,376,202 shares during the period. Wells Fargo & Company MN boosted its stake 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 purchasing an additional 615,058 shares during the period. Guggenheim Capital LLC boosted its stake in Nuveen California Quality Municipal Income Fund by 13.0% in the 2nd quarter. Guggenheim Capital LLC now owns 1,810,250 shares of the company’s stock worth $20,220,000 after purchasing an additional 207,951 shares during the period. Advisors Asset Management Inc. grew its holdings in Nuveen California Quality Municipal Income Fund by 53.4% during the 4th quarter. Advisors Asset Management Inc. now owns 1,349,549 shares of the company’s stock valued at $15,938,000 after buying an additional 469,939 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of Nuveen California Quality Municipal Income Fund by 6.3% during the second quarter. Rockefeller Capital Management L.P. now owns 1,150,167 shares of the company’s stock valued at $12,847,000 after buying an additional 67,853 shares during 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.