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

Nuveen California Municipal Value Fund (NYSE:NCA) was the recipient of a large drop in short interest in May. As of May 31st, there was short interest totalling 60,100 shares, a drop of 35.0% from the May 15th total of 92,500 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 81,500 shares, the days-to-cover ratio is currently 0.7 days.

Nuveen California Municipal Value Fund Price Performance

Shares of Nuveen California Municipal Value Fund stock opened at $8.45 on Tuesday. Nuveen California Municipal Value Fund has a 12-month low of $8.22 and a 12-month high of $9.23. The company’s fifty day simple moving average is $8.44 and its two-hundred day simple moving average is $8.53.

Nuveen California Municipal Value Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.029 per share. This represents a $0.35 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Friday, June 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Olde Wealth Management LLC purchased a new position in shares of Nuveen California Municipal Value Fund during the first quarter valued at approximately $26,000. Elequin Capital LP bought a new position in shares of Nuveen California Municipal Value Fund in the fourth quarter worth approximately $39,000. Comerica Bank bought a new position in shares of Nuveen California Municipal Value Fund during the first quarter worth $62,000. Investor s Fiduciary Advisor Network LLC bought a new position in shares of Nuveen California Municipal Value Fund during the fourth quarter worth $85,000. Finally, First Manhattan CO. LLC. bought a new position in shares of Nuveen California Municipal Value Fund during the first quarter worth $118,000. Institutional investors own 21.46% of the company’s stock.

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.