Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock Price Crosses Below Fifty Day Moving Average – What’s Next?

Nuveen California Quality Municipal Income Fund (NYSE:NAC)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.37 and traded as low as $11.24. Nuveen California Quality Municipal Income Fund shares last traded at $11.25, with a volume of 269,961 shares trading hands.

Nuveen California Quality Municipal Income Fund Trading Down 0.8 %

The stock has a fifty day moving average price of $11.37 and a two-hundred day moving average price of $11.51.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.0735 per share. This represents a $0.88 annualized dividend and a yield of 7.84%. The ex-dividend date of this dividend is Friday, March 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NAC. RHS Financial LLC lifted its holdings in Nuveen California Quality Municipal Income Fund by 19.3% in the fourth quarter. RHS Financial LLC now owns 36,424 shares of the company’s stock worth $411,000 after purchasing an additional 5,902 shares during the period. Bartlett & CO. Wealth Management LLC raised its position in shares of Nuveen California Quality Municipal Income Fund by 12.5% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 37,000 shares of the company’s stock worth $418,000 after buying an additional 4,100 shares in the last quarter. Southland Equity Partners LLC lifted its stake in shares of Nuveen California Quality Municipal Income Fund by 20.5% in the 4th quarter. Southland Equity Partners LLC now owns 123,040 shares of the company’s stock worth $1,389,000 after acquiring an additional 20,900 shares during the period. Melfa Wealth Management Inc. boosted its holdings in shares of Nuveen California Quality Municipal Income Fund by 13.8% in the fourth quarter. Melfa Wealth Management Inc. now owns 53,566 shares of the company’s stock valued at $605,000 after acquiring an additional 6,500 shares in the last quarter. Finally, Ignite Planners LLC increased its stake in shares of Nuveen California Quality Municipal Income Fund by 9.2% during the fourth quarter. Ignite Planners LLC now owns 288,357 shares of the company’s stock valued at $3,302,000 after acquiring an additional 24,323 shares during the period.

About Nuveen California Quality Municipal Income Fund

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.