Nuveen California Municipal Value Fund (NYSE:NCA) Sees Significant Growth in Short Interest

Nuveen California Municipal Value Fund (NYSE:NCA) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 75,900 shares, a growth of 43.8% from the March 15th total of 52,800 shares. Based on an average trading volume of 82,800 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Trading of Nuveen California Municipal Value Fund

Several large investors have recently added to or reduced their stakes in NCA. Elequin Capital LP purchased a new stake in shares of Nuveen California Municipal Value Fund in the 4th quarter valued at $39,000. Investor s Fiduciary Advisor Network LLC acquired a new position in Nuveen California Municipal Value Fund during the fourth quarter valued at $85,000. Jones Financial Companies Lllp boosted its holdings in Nuveen California Municipal Value Fund by 27.9% in the fourth quarter. Jones Financial Companies Lllp now owns 17,855 shares of the company’s stock valued at $151,000 after purchasing an additional 3,898 shares during the last quarter. DKM Wealth Management Inc. acquired a new stake in Nuveen California Municipal Value Fund during the 4th quarter worth about $152,000. Finally, Mutual Advisors LLC grew its position in Nuveen California Municipal Value Fund by 12.6% during the 4th quarter. Mutual Advisors LLC now owns 18,752 shares of the company’s stock worth $158,000 after purchasing an additional 2,096 shares during the period. Hedge funds and other institutional investors own 21.46% of the company’s stock.

Nuveen California Municipal Value Fund Stock Performance

NYSE:NCA opened at $8.32 on Friday. The company’s 50-day simple moving average is $8.58 and its 200-day simple moving average is $8.67. Nuveen California Municipal Value Fund has a fifty-two week low of $8.24 and a fifty-two week high of $9.23.

Nuveen California Municipal Value Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a $0.029 dividend. This represents a $0.35 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Tuesday, April 15th.

About Nuveen California Municipal Value Fund

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.