Nuveen California Quality Municipal Income Fund (NYSE:NAC) Short Interest Down 34.0% in April

Nuveen California Quality Municipal Income Fund (NYSE:NAC) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totaling 366,899 shares, a drop of 34.0% from the March 31st total of 555,758 shares. Based on an average daily trading volume, of 657,572 shares, the days-to-cover ratio is presently 0.6 days.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

A number of institutional investors have recently added to or reduced their stakes in NAC. Royal Bank of Canada lifted its position in Nuveen California Quality Municipal Income Fund by 8.1% during the first quarter. Royal Bank of Canada now owns 125,135 shares of the company’s stock worth $1,407,000 after buying an additional 9,425 shares in the last quarter. NewEdge Advisors LLC lifted its position in Nuveen California Quality Municipal Income Fund by 41.6% during the first quarter. NewEdge Advisors LLC now owns 70,068 shares of the company’s stock worth $788,000 after buying an additional 20,593 shares in the last quarter. Jane Street Group LLC purchased a new position in Nuveen California Quality Municipal Income Fund during the first quarter worth approximately $300,000. Ameriprise Financial Inc. lifted its position in Nuveen California Quality Municipal Income Fund by 3.9% during the second quarter. Ameriprise Financial Inc. now owns 118,150 shares of the company’s stock worth $1,320,000 after buying an additional 4,399 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Nuveen California Quality Municipal Income Fund by 8.3% during the second quarter. Bank of America Corp DE now owns 494,618 shares of the company’s stock worth $5,525,000 after buying an additional 37,729 shares in the last quarter.

Nuveen California Quality Municipal Income Fund Stock Performance

Nuveen California Quality Municipal Income Fund stock traded up $0.09 during trading on Thursday, reaching $11.94. 614,077 shares of the company were exchanged, compared to its average volume of 567,714. Nuveen California Quality Municipal Income Fund has a 52-week low of $10.69 and a 52-week high of $12.25. The stock’s 50 day simple moving average is $11.80 and its two-hundred day simple moving average is $11.84.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be given a dividend of $0.0735 per share. The ex-dividend date is Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 7.4%.

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.