Nuveen California Municipal Value Fund (NYSE:NCA) Short Interest Up 17.2% in April

Nuveen California Municipal Value Fund (NYSE:NCAGet Rating) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 46,300 shares, a growth of 17.2% from the March 31st total of 39,500 shares. Based on an average trading volume of 59,900 shares, the days-to-cover ratio is presently 0.8 days.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley raised its stake in shares of Nuveen California Municipal Value Fund by 11.4% during the second quarter. Morgan Stanley now owns 775,084 shares of the company’s stock worth $8,293,000 after purchasing an additional 79,557 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Nuveen California Municipal Value Fund during the 3rd quarter worth $111,000. Raymond James & Associates raised its position in Nuveen California Municipal Value Fund by 11.1% during the 3rd quarter. Raymond James & Associates now owns 30,332 shares of the company’s stock worth $320,000 after buying an additional 3,036 shares during the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of Nuveen California Municipal Value Fund by 8.4% in the third quarter. Advisor Group Holdings Inc. now owns 47,115 shares of the company’s stock valued at $497,000 after acquiring an additional 3,671 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in shares of Nuveen California Municipal Value Fund by 12.7% in the third quarter. Guggenheim Capital LLC now owns 543,522 shares of the company’s stock valued at $5,734,000 after acquiring an additional 61,277 shares in the last quarter. Institutional investors and hedge funds own 21.52% of the company’s stock.

Shares of NYSE:NCA opened at $8.64 on Friday. Nuveen California Municipal Value Fund has a 1-year low of $8.64 and a 1-year high of $11.00. The firm has a fifty day moving average price of $9.18 and a 200 day moving average price of $9.73.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th will be issued a $0.0245 dividend. The ex-dividend date is Thursday, May 12th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 3.40%.

Nuveen California Municipal Value Fund Company Profile (Get Rating)

Nuveen California Municipal Value 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. The fund invests primarily in municipal securities rated Baa/BBB or better.

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