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

Nuveen California Quality Municipal Income Fund (NYSE:NAC)’s stock price crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $10.43 and traded as low as $10.21. Nuveen California Quality Municipal Income Fund shares last traded at $10.2550, with a volume of 1,043,646 shares trading hands.

Nuveen California Quality Municipal Income Fund Price Performance

The business’s 50-day simple moving average is $10.43 and its two-hundred day simple moving average is $11.51.

Nuveen California Quality Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a $0.0695 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Friday, November 13th.

Institutional Investors Weigh In On Nuveen California Quality Municipal Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oder Investment Management LLC increased its holdings in Nuveen California Quality Municipal Income Fund by 2.0% in the 1st quarter. Oder Investment Management LLC now owns 63,057 shares of the company’s stock worth $735,000 after purchasing an additional 1,221 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Nuveen California Quality Municipal Income Fund by 0.9% during the third quarter. Commonwealth Equity Services LLC now owns 139,262 shares of the company’s stock valued at $1,427,000 after purchasing an additional 1,232 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Nuveen California Quality Municipal Income Fund by 3.4% during the third quarter. Oppenheimer & Co. Inc. now owns 41,921 shares of the company’s stock valued at $430,000 after purchasing an additional 1,379 shares in the last quarter. Ameritas Advisory Services LLC grew its holdings in shares of Nuveen California Quality Municipal Income Fund by 25.0% during the second quarter. Ameritas Advisory Services LLC now owns 15,202 shares of the company’s stock worth $184,000 after purchasing an additional 3,045 shares during the last quarter. Finally, NWF Advisory Services Inc. grew its holdings in shares of Nuveen California Quality Municipal Income Fund by 20.0% during the first quarter. NWF Advisory Services Inc. now owns 18,490 shares of the company’s stock worth $215,000 after purchasing an additional 3,085 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 designed to provide current income that is generally exempt from regular federal and California state income taxes. The fund invests primarily in municipal securities issued by or on behalf of California state and local governments, public authorities, and other governmental entities. Its portfolio may include a range of investment-grade and below-investment-grade municipal bonds, including general obligation bonds, revenue bonds, and other tax-exempt obligations.