Short Interest in Nuveen California Quality Municipal Income Fund (NYSE:NAC) Decreases By 20.5%

Nuveen California Quality Municipal Income Fund (NYSE:NAC) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 90,000 shares, a decline of 20.5% from the October 15th total of 113,200 shares. Based on an average daily trading volume, of 516,700 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NAC. Northwestern Mutual Wealth Management Co. bought a new stake in Nuveen California Quality Municipal Income Fund in the 2nd quarter worth approximately $82,000. CWM LLC lifted its position in shares of Nuveen California Quality Municipal Income Fund by 253.9% in the 3rd quarter. CWM LLC now owns 7,018 shares of the company’s stock worth $83,000 after purchasing an additional 5,035 shares during the period. Larson Financial Group LLC bought a new stake in Nuveen California Quality Municipal Income Fund during the third quarter valued at about $119,000. Blue Bell Private Wealth Management LLC boosted its holdings in Nuveen California Quality Municipal Income Fund by 48.5% in the second quarter. Blue Bell Private Wealth Management LLC now owns 10,926 shares of the company’s stock worth $126,000 after acquiring an additional 3,569 shares in the last quarter. Finally, CreativeOne Wealth LLC purchased a new position in Nuveen California Quality Municipal Income Fund in the 3rd quarter worth $128,000.

Nuveen California Quality Municipal Income Fund Price Performance

Shares of NAC stock traded down $0.04 during mid-day trading on Friday, reaching $11.40. The stock had a trading volume of 400,851 shares, compared to its average volume of 412,347. Nuveen California Quality Municipal Income Fund has a 52-week low of $10.24 and a 52-week high of $12.03. The stock’s 50-day moving average price is $11.73 and its two-hundred day moving average price is $11.53.

Nuveen California Quality Municipal Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.0735 dividend. This is a positive change from Nuveen California Quality Municipal Income Fund’s previous monthly dividend of $0.07. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.74%.

Nuveen California Quality Municipal Income Fund Company Profile

Nuveen California Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of California, United States. The fund invests in undervalued municipal securities and other related investments that are exempt from regular federal and California income taxes.