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

Nuveen California Quality Municipal Income Fund (NYSE:NAC) was the recipient of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 261,700 shares, an increase of 26.9% from the May 15th total of 206,200 shares. Based on an average daily trading volume, of 454,900 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Robinson Capital Management LLC raised its position in Nuveen California Quality Municipal Income Fund by 33.5% in the 4th quarter. Robinson Capital Management LLC now owns 814,746 shares of the company’s stock valued at $9,198,000 after buying an additional 204,350 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Nuveen California Quality Municipal Income Fund in the 4th quarter worth approximately $1,863,000. Bank of America Corp DE grew its holdings in shares of Nuveen California Quality Municipal Income Fund by 54.6% in the fourth quarter. Bank of America Corp DE now owns 467,107 shares of the company’s stock valued at $5,274,000 after acquiring an additional 164,927 shares in the last quarter. Atala Financial Inc bought a new stake in Nuveen California Quality Municipal Income Fund during the fourth quarter worth $1,617,000. Finally, DKM Wealth Management Inc. purchased a new position in Nuveen California Quality Municipal Income Fund in the fourth quarter worth $1,608,000.

Nuveen California Quality Municipal Income Fund Stock Up 0.4%

Nuveen California Quality Municipal Income Fund stock opened at $11.02 on Friday. The firm’s fifty day moving average price is $10.86 and its two-hundred day moving average price is $11.17. Nuveen California Quality Municipal Income Fund has a 1-year low of $10.35 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, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.0735 per share. This represents a $0.88 dividend on an annualized basis and a yield of 8.01%. The ex-dividend date of this dividend is Friday, June 13th.

Nuveen California Quality Municipal Income Fund Company Profile

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.