Nuveen California Quality Municipal Income Fund (NYSE:NAC) Trading Down 0.2% – What’s Next?

Shares of Nuveen California Quality Municipal Income Fund (NYSE:NAC) dropped 0.2% during mid-day trading on Tuesday . The stock traded as low as $11.73 and last traded at $11.7360. Approximately 538,972 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 457,258 shares. The stock had previously closed at $11.76.

Nuveen California Quality Municipal Income Fund Price Performance

The stock’s 50-day moving average is $11.86 and its 200 day moving average is $11.45.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.0735 dividend. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Monday, December 15th.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

Several institutional investors have recently modified their holdings of the business. Guggenheim Capital LLC raised its holdings in shares of Nuveen California Quality Municipal Income Fund by 13.0% in the second quarter. Guggenheim Capital LLC now owns 1,810,250 shares of the company’s stock valued at $20,220,000 after purchasing an additional 207,951 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Nuveen California Quality Municipal Income Fund by 6.3% in 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 purchasing an additional 67,853 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Nuveen California Quality Municipal Income Fund by 18.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 879,610 shares of the company’s stock valued at $10,116,000 after buying an additional 138,125 shares during the last quarter. Bank of America Corp DE lifted its position in Nuveen California Quality Municipal Income Fund by 48.7% during the 3rd quarter. Bank of America Corp DE now owns 735,480 shares of the company’s stock worth $8,458,000 after buying an additional 240,862 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Nuveen California Quality Municipal Income Fund by 8.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 377,589 shares of the company’s stock worth $4,342,000 after buying an additional 29,841 shares during the last quarter.

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.