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

Nuveen California Quality Municipal Income Fund (NYSE:NAC)’s share price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $11.86 and traded as low as $11.85. Nuveen California Quality Municipal Income Fund shares last traded at $11.8750, with a volume of 338,078 shares changing hands.

Nuveen California Quality Municipal Income Fund Price Performance

The company’s 50 day moving average price is $11.86 and its two-hundred day moving average price is $11.66.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be issued a dividend of $0.0735 per share. This represents a c) annualized dividend and a dividend yield of 7.4%. The ex-dividend date is Friday, February 13th.

Institutional Trading of Nuveen California Quality Municipal Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new position in Nuveen California Quality Municipal Income Fund in the third quarter worth approximately $29,000. Ameriflex Group Inc. lifted its stake in shares of Nuveen California Quality Municipal Income Fund by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 2,800 shares of the company’s stock valued at $32,000 after purchasing an additional 1,400 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Nuveen California Quality Municipal Income Fund during the 4th quarter worth $41,000. Smartleaf Asset Management LLC increased its position in shares of Nuveen California Quality Municipal Income Fund by 484.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 7,245 shares of the company’s stock worth $82,000 after purchasing an additional 6,005 shares during the last quarter. Finally, Harbour Investments Inc. purchased a new stake in Nuveen California Quality Municipal Income Fund in the 4th quarter valued at about $106,000.

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.