Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock Price Passes Below 50 Day Moving Average – Here’s Why

Nuveen California Quality Municipal Income Fund (NYSE:NAC) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.93 and traded as low as $11.77. Nuveen California Quality Municipal Income Fund shares last traded at $11.8040, with a volume of 380,788 shares.

Nuveen California Quality Municipal Income Fund Stock Performance

The stock has a fifty day simple moving average of $11.93 and a 200-day simple moving average of $11.88.

Nuveen California Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.0695 per share. The ex-dividend date is Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%.

Institutional Investors Weigh In On Nuveen California Quality Municipal Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of NAC. Kestra Private Wealth Services LLC lifted its stake in Nuveen California Quality Municipal Income Fund by 1.8% in the 4th quarter. Kestra Private Wealth Services LLC now owns 52,725 shares of the company’s stock valued at $623,000 after acquiring an additional 939 shares in the last quarter. Oder Investment Management LLC grew its stake in shares of Nuveen California Quality Municipal Income Fund by 2.0% during the 1st quarter. Oder Investment Management LLC now owns 63,057 shares of the company’s stock worth $735,000 after acquiring an additional 1,221 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Nuveen California Quality Municipal Income Fund by 1.6% in the fourth quarter. D.A. Davidson & CO. now owns 125,196 shares of the company’s stock valued at $1,479,000 after purchasing an additional 1,918 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Nuveen California Quality Municipal Income Fund by 10.3% in the fourth quarter. Corient Private Wealth LLC now owns 23,590 shares of the company’s stock valued at $279,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Nuveen California Quality Municipal Income Fund by 7.8% in the second quarter. Oppenheimer & Co. Inc. now owns 40,542 shares of the company’s stock valued at $491,000 after purchasing an additional 2,921 shares during the last quarter.

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.