Nuveen California Quality Municipal Income Fund (NYSE:NAC) Share Price Passes Below 50 Day Moving Average – Should You Sell?

Nuveen California Quality Municipal Income Fund (NYSE:NAC)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.78 and traded as low as $11.67. Nuveen California Quality Municipal Income Fund shares last traded at $11.7530, with a volume of 646,796 shares.

Nuveen California Quality Municipal Income Fund Price Performance

The business has a 50 day simple moving average of $11.78 and a 200 day simple moving average of $11.85.

Nuveen California Quality Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a $0.0735 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 7.5%.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP boosted its stake in Nuveen California Quality Municipal Income Fund by 0.6% in the third quarter. Allworth Financial LP now owns 156,382 shares of the company’s stock worth $1,798,000 after purchasing an additional 863 shares in the last quarter. PFG Investments LLC boosted its stake in Nuveen California Quality Municipal Income Fund by 0.5% in the fourth quarter. PFG Investments LLC now owns 188,895 shares of the company’s stock worth $2,231,000 after purchasing an additional 872 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in Nuveen California Quality Municipal Income Fund by 1.8% in the fourth quarter. Kestra Private Wealth Services LLC now owns 52,725 shares of the company’s stock worth $623,000 after purchasing an additional 939 shares in the last quarter. NWF Advisory Services Inc. lifted its stake in shares of Nuveen California Quality Municipal Income Fund by 8.1% during the third quarter. NWF Advisory Services Inc. now owns 15,690 shares of the company’s stock valued at $180,000 after acquiring an additional 1,170 shares during the period. Finally, Oder Investment Management LLC lifted its stake in shares of Nuveen California Quality Municipal Income Fund by 2.0% during the first quarter. Oder Investment Management LLC now owns 63,057 shares of the company’s stock valued at $735,000 after acquiring an additional 1,221 shares during the period.

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.