Nuveen California Quality Municipal Income Fund (NYSE:NAC) Short Interest Up 37.5% in May

Nuveen California Quality Municipal Income Fund (NYSE:NAC) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 206,200 shares, a growth of 37.5% from the April 30th total of 150,000 shares. Based on an average trading volume of 435,800 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of Nuveen California Quality Municipal Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of NAC. Robinson Capital Management LLC increased its position in shares of Nuveen California Quality Municipal Income Fund by 33.5% during the fourth quarter. Robinson Capital Management LLC now owns 814,746 shares of the company’s stock valued at $9,198,000 after acquiring an additional 204,350 shares during the last quarter. Raymond James Financial Inc. bought a new position in Nuveen California Quality Municipal Income Fund during the fourth quarter valued at $1,863,000. Bank of America Corp DE grew its holdings in Nuveen California Quality Municipal Income Fund by 54.6% during the fourth quarter. Bank of America Corp DE now owns 467,107 shares of the company’s stock valued at $5,274,000 after purchasing an additional 164,927 shares during the period. Atala Financial Inc bought a new position in Nuveen California Quality Municipal Income Fund during the fourth quarter valued at $1,617,000. Finally, DKM Wealth Management Inc. bought a new position in Nuveen California Quality Municipal Income Fund during the fourth quarter valued at $1,608,000.

Nuveen California Quality Municipal Income Fund Stock Down 0.0%

Shares of NAC opened at $10.93 on Wednesday. The stock has a 50 day moving average of $10.86 and a 200 day moving average of $11.21. Nuveen California Quality Municipal Income Fund has a 12 month low of $10.35 and a 12 month high of $12.03.

Nuveen California Quality Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.0735 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 8.07%. The ex-dividend date of this dividend is Friday, June 13th.

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.