Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Nuveen California Quality Municipal Income Fund (NYSE:NAC) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.99 and traded as low as $11.94. Nuveen California Quality Municipal Income Fund shares last traded at $11.9450, with a volume of 338,589 shares changing hands.

Nuveen California Quality Municipal Income Fund Stock Performance

The stock has a fifty day simple moving average of $11.99 and a 200-day simple moving average of $11.89.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given a $0.0695 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.0%.

Institutional Trading of Nuveen California Quality Municipal Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley raised its position in Nuveen California Quality Municipal Income Fund by 36.6% in the 4th quarter. Morgan Stanley now owns 5,137,471 shares of the company’s stock valued at $60,674,000 after buying an additional 1,376,202 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in Nuveen California Quality Municipal Income Fund by 28.6% during the 4th quarter. Guggenheim Capital LLC now owns 2,938,681 shares of the company’s stock worth $34,706,000 after acquiring an additional 653,333 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Nuveen California Quality Municipal Income Fund by 44.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,994,983 shares of the company’s stock worth $23,561,000 after acquiring an additional 615,058 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Nuveen California Quality Municipal Income Fund by 53.4% in the 4th quarter. Advisors Asset Management Inc. now owns 1,349,549 shares of the company’s stock worth $15,938,000 after acquiring an additional 469,939 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Nuveen California Quality Municipal Income Fund by 449.3% in the 4th quarter. Jane Street Group LLC now owns 413,675 shares of the company’s stock worth $4,886,000 after acquiring an additional 338,370 shares in the last quarter.

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.