Short Interest in Nuveen California Quality Municipal Income Fund (NYSE:NAC) Declines By 50.8%

Nuveen California Quality Municipal Income Fund (NYSE:NACGet Rating) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 12,200 shares, a decrease of 50.8% from the April 15th total of 24,800 shares. Based on an average daily volume of 321,300 shares, the days-to-cover ratio is currently 0.0 days.

Hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its stake in Nuveen California Quality Municipal Income Fund by 50.3% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 37,050 shares of the company’s stock worth $581,000 after acquiring an additional 12,393 shares during the period. Advisor Group Holdings Inc. grew its stake in Nuveen California Quality Municipal Income Fund by 17.1% in the 3rd quarter. Advisor Group Holdings Inc. now owns 205,641 shares of the company’s stock worth $3,226,000 after acquiring an additional 30,051 shares during the period. Boston Private Wealth LLC purchased a new stake in Nuveen California Quality Municipal Income Fund in the 3rd quarter worth approximately $252,000. Mercer Global Advisors Inc. ADV grew its stake in Nuveen California Quality Municipal Income Fund by 8.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 17,438 shares of the company’s stock worth $274,000 after acquiring an additional 1,406 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Nuveen California Quality Municipal Income Fund by 51.0% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 224,487 shares of the company’s stock worth $3,522,000 after acquiring an additional 75,773 shares during the period.

Shares of NAC stock remained flat at $$11.86 during trading hours on Friday. 406,819 shares of the stock traded hands, compared to its average volume of 297,358. The stock has a fifty day moving average of $12.63 and a two-hundred day moving average of $14.13. Nuveen California Quality Municipal Income Fund has a twelve month low of $11.71 and a twelve month high of $16.22.

The firm also recently declared a monthly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th will be given a $0.0515 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $0.62 annualized dividend and a dividend yield of 5.21%.

About Nuveen California Quality Municipal Income Fund (Get Rating)

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.

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