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) shares passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.86 and traded as low as $11.85. Nuveen California Quality Municipal Income Fund shares last traded at $11.8750, with a volume of 338,078 shares changing hands.

Nuveen California Quality Municipal Income Fund Price Performance

The stock’s 50-day simple moving average is $11.86 and its 200-day simple moving average is $11.66.

Nuveen California Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be issued a $0.0735 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a c) annualized dividend and a dividend yield of 7.4%.

Institutional Trading of Nuveen California Quality Municipal Income Fund

A number of hedge funds have recently bought and sold shares of NAC. Highline Wealth Partners LLC bought a new stake in Nuveen California Quality Municipal Income Fund in the 3rd quarter valued at about $29,000. Ameriflex Group Inc. increased its stake in shares of 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 worth $32,000 after purchasing an additional 1,400 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Nuveen California Quality Municipal Income Fund in the fourth quarter valued at approximately $41,000. Smartleaf Asset Management LLC lifted its stake in shares of Nuveen California Quality Municipal Income Fund by 484.3% during the 3rd 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 shares of Nuveen California Quality Municipal Income Fund during the 4th quarter valued at approximately $106,000.

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.