Nuveen California Quality Municipal Income Fund (NYSE:NAC) Short Interest Up 111.8% in March

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NAC. Highline Wealth Partners LLC purchased a new stake in shares of Nuveen California Quality Municipal Income Fund during the 3rd quarter worth about $29,000. Ameriflex Group Inc. grew its stake in shares of Nuveen California Quality Municipal Income Fund by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 2,800 shares of the company’s stock valued at $32,000 after buying an additional 1,400 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Nuveen California Quality Municipal Income Fund in the fourth quarter worth approximately $41,000. Smartleaf Asset Management LLC increased its holdings in Nuveen California Quality Municipal Income Fund by 484.3% in the third quarter. Smartleaf Asset Management LLC now owns 7,245 shares of the company’s stock worth $82,000 after buying an additional 6,005 shares during the last quarter. Finally, Harbour Investments Inc. bought a new position in Nuveen California Quality Municipal Income Fund during the fourth quarter valued at approximately $106,000.

Nuveen California Quality Municipal Income Fund Trading Down 1.3%

Shares of NYSE:NAC traded down $0.16 during trading on Thursday, reaching $11.49. 714,188 shares of the company traded hands, compared to its average volume of 533,341. The firm has a fifty day simple moving average of $11.87 and a 200 day simple moving average of $11.80. Nuveen California Quality Municipal Income Fund has a 1-year low of $10.35 and a 1-year high of $12.25.

Nuveen California Quality Municipal Income Fund Announces Dividend

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

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.