Nuveen California Quality Municipal Income Fund (NYSE:NAC) Share Price Crosses Below 50-Day Moving Average – Should You Sell?

Nuveen California Quality Municipal Income Fund (NYSE:NAC)’s stock price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.98 and traded as low as $11.68. Nuveen California Quality Municipal Income Fund shares last traded at $11.7050, with a volume of 332,100 shares traded.

Nuveen California Quality Municipal Income Fund Stock Down 0.1%

The stock has a 50 day moving average price of $11.98 and a two-hundred day moving average price of $11.89.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be issued a dividend of $0.0695 per share. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Wednesday, July 15th.

Institutional Trading of Nuveen California Quality Municipal Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Nuveen California Quality Municipal Income Fund by 17.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 518,286 shares of the company’s stock valued at $6,282,000 after purchasing an additional 76,673 shares during the period. Mirador Capital Partners LP purchased a new stake in Nuveen California Quality Municipal Income Fund during the 2nd quarter worth approximately $390,000. Western Wealth Management LLC lifted its holdings in Nuveen California Quality Municipal Income Fund by 189.2% during the 1st quarter. Western Wealth Management LLC now owns 43,515 shares of the company’s stock worth $507,000 after buying an additional 28,466 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Nuveen California Quality Municipal Income Fund by 7.3% during the 1st quarter. NewEdge Advisors LLC now owns 71,293 shares of the company’s stock worth $831,000 after buying an additional 4,864 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Nuveen California Quality Municipal Income Fund by 11.7% in the 1st quarter. Bank of America Corp DE now owns 932,762 shares of the company’s stock valued at $10,867,000 after buying an additional 97,905 shares during the period.

About Nuveen California Quality Municipal Income Fund

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.