Nuveen California Quality Municipal Income Fund (NYSE:NAC) Shares Cross Below 50-Day Moving Average – Should You Sell?

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 $11.93 and traded as low as $11.77. Nuveen California Quality Municipal Income Fund shares last traded at $11.8040, with a volume of 380,788 shares changing hands.

Nuveen California Quality Municipal Income Fund Price Performance

The business’s fifty day moving average is $11.92 and its two-hundred day moving average is $11.88.

Nuveen California Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a $0.0695 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 7.1%.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of NAC. Kestra Advisory Services LLC bought a new stake in shares of Nuveen California Quality Municipal Income Fund in the fourth quarter worth $41,000. Global Retirement Partners LLC purchased a new position in Nuveen California Quality Municipal Income Fund in the second quarter worth about $45,000. Harbour Investments Inc. purchased a new position in Nuveen California Quality Municipal Income Fund in the fourth quarter worth about $106,000. CIBC Bancorp USA Inc. bought a new stake in shares of Nuveen California Quality Municipal Income Fund during the 3rd quarter valued at about $115,000. Finally, EP Wealth Advisors LLC bought a new stake in shares of Nuveen California Quality Municipal Income Fund during the 4th quarter valued at about $120,000.

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.