Nuveen California Quality Municipal Income Fund (NYSE:NAC) Sees Large Decrease in Short Interest

Nuveen California Quality Municipal Income Fund (NYSE:NAC) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 64,000 shares, a drop of 54.8% from the February 13th total of 141,600 shares. Based on an average trading volume of 454,100 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Guggenheim Capital LLC raised its holdings in shares of Nuveen California Quality Municipal Income Fund by 8.7% in the 4th quarter. Guggenheim Capital LLC now owns 1,557,366 shares of the company’s stock worth $17,583,000 after purchasing an additional 124,309 shares during the period. Wells Fargo & Company MN raised its stake in shares of Nuveen California Quality Municipal Income Fund by 3.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,125,822 shares of the company’s stock valued at $12,711,000 after buying an additional 33,447 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Nuveen California Quality Municipal Income Fund by 9.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 933,059 shares of the company’s stock valued at $10,534,000 after buying an additional 82,323 shares during the last quarter. Robinson Capital Management LLC grew its stake in shares of Nuveen California Quality Municipal Income Fund by 33.5% during the 4th quarter. Robinson Capital Management LLC now owns 814,746 shares of the company’s stock worth $9,198,000 after acquiring an additional 204,350 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in Nuveen California Quality Municipal Income Fund by 5.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 571,968 shares of the company’s stock worth $6,801,000 after acquiring an additional 31,058 shares during the last quarter.

Nuveen California Quality Municipal Income Fund Price Performance

NAC traded down $0.07 during mid-day trading on Friday, reaching $11.32. 513,109 shares of the stock were exchanged, compared to its average volume of 451,392. The company has a 50 day moving average price of $11.37 and a two-hundred day moving average price of $11.54. Nuveen California Quality Municipal Income Fund has a 1 year low of $10.60 and a 1 year high of $12.03.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.0735 per share. The ex-dividend date is Friday, March 14th. This represents a $0.88 dividend on an annualized basis and a yield of 7.79%.

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.