Nuveen California Quality Municipal Income Fund (NYSE:NAC) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Nuveen California Quality Municipal Income Fund (NYSE:NAC) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.80 and traded as low as $11.53. Nuveen California Quality Municipal Income Fund shares last traded at $11.5850, with a volume of 731,644 shares.

Nuveen California Quality Municipal Income Fund Price Performance

The stock’s 50-day simple moving average is $11.84 and its 200 day simple moving average is $11.80.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were paid a dividend of $0.0735 per share. The ex-dividend date was Friday, March 13th. This represents a c) annualized dividend and a yield of 7.6%.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in shares of Nuveen California Quality Municipal Income Fund during the 3rd quarter worth about $29,000. Ameriflex Group Inc. raised its holdings in Nuveen California Quality Municipal Income Fund by 100.0% in the third quarter. Ameriflex Group Inc. now owns 2,800 shares of the company’s stock valued at $32,000 after buying an additional 1,400 shares during the period. Kestra Advisory Services LLC acquired a new position in Nuveen California Quality Municipal Income Fund during the fourth quarter valued at approximately $41,000. Smartleaf Asset Management LLC lifted its position in Nuveen California Quality Municipal Income Fund by 484.3% during the third quarter. Smartleaf Asset Management LLC now owns 7,245 shares of the company’s stock valued at $82,000 after buying an additional 6,005 shares in the last quarter. Finally, Harbour Investments Inc. purchased a new stake in Nuveen California Quality Municipal Income Fund during the fourth quarter worth approximately $106,000.

Nuveen California Quality Municipal Income Fund Company Profile

Nuveen California Quality Municipal Income Fund (NYSE: NAC) is a closed-end management investment company that seeks to provide investors with a high level of current income exempt from federal and California state income taxes, with a secondary objective of capital appreciation. The fund primarily acquires a diversified portfolio of municipal securities issued by entities located in California, focusing on investment-grade bonds. These securities typically include general obligation bonds, revenue bonds and other taxable or tax-advantaged instruments that finance public projects such as transportation, education and utilities.

In managing the portfolio, the fund’s investment team applies rigorous credit research to identify issuers with strong balance sheets, stable revenue streams and manageable debt levels.