Short Interest in Nuveen California Quality Municipal Income Fund (NYSE:NAC) Drops By 34.0%

Nuveen California Quality Municipal Income Fund (NYSE:NAC) was the recipient of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totaling 366,899 shares, a decrease of 34.0% from the March 31st total of 555,758 shares. Based on an average daily trading volume, of 657,572 shares, the days-to-cover ratio is presently 0.6 days.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

Several hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC grew its holdings in shares of Nuveen California Quality Municipal Income Fund by 1,571.6% during the first quarter. Kestra Advisory Services LLC now owns 57,352 shares of the company’s stock worth $668,000 after purchasing an additional 53,921 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Nuveen California Quality Municipal Income Fund by 5.5% during the first quarter. Whittier Trust Co. now owns 211,237 shares of the company’s stock worth $2,442,000 after purchasing an additional 10,918 shares during the last quarter. Ascentis Independent Advisors purchased a new position in shares of Nuveen California Quality Municipal Income Fund during the first quarter worth about $726,000. Integrity Wealth Partners LLC purchased a new position in shares of Nuveen California Quality Municipal Income Fund during the first quarter worth about $1,118,000. Finally, PFG Investments LLC grew its holdings in shares of Nuveen California Quality Municipal Income Fund by 5.0% during the first quarter. PFG Investments LLC now owns 198,332 shares of the company’s stock worth $2,311,000 after purchasing an additional 9,437 shares during the last quarter.

Nuveen California Quality Municipal Income Fund Stock Performance

NYSE:NAC traded up $0.09 during trading hours on Thursday, hitting $11.94. The company’s stock had a trading volume of 614,077 shares, compared to its average volume of 567,714. The stock has a fifty day moving average of $11.80 and a 200-day moving average of $11.84. Nuveen California Quality Municipal Income Fund has a 52-week low of $10.69 and a 52-week high of $12.25.

Nuveen California Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be issued a dividend of $0.0735 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 7.4%.

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.