Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock 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 Wednesday . The stock has a 50 day moving average of $11.85 and traded as low as $11.76. Nuveen California Quality Municipal Income Fund shares last traded at $11.8050, with a volume of 450,179 shares traded.

Nuveen California Quality Municipal Income Fund Stock Down 0.1%

The stock has a 50 day simple moving average of $11.85 and a 200-day simple moving average of $11.57.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, February 2nd. Investors of record on Thursday, January 15th will be given a $0.0735 dividend. This represents a c) annualized dividend and a yield of 7.5%. The ex-dividend date is Thursday, January 15th.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Highline Wealth Partners LLC purchased a new stake in shares of Nuveen California Quality Municipal Income Fund during the 3rd quarter valued at about $29,000. Ameriflex Group Inc. raised its position in Nuveen California Quality Municipal Income Fund by 100.0% during the third quarter. Ameriflex Group Inc. now owns 2,800 shares of the company’s stock valued at $32,000 after purchasing an additional 1,400 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Nuveen California Quality Municipal Income Fund by 484.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 7,245 shares of the company’s stock valued at $82,000 after purchasing an additional 6,005 shares during the last quarter. Sanders Morris Harris LLC bought a new stake in shares of Nuveen California Quality Municipal Income Fund in the 3rd quarter valued at approximately $115,000. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Nuveen California Quality Municipal Income Fund in the 3rd quarter worth approximately $115,000.

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.