Nuveen California Quality Municipal Income Fund (NYSE:NAC) Sees Large Growth in Short Interest

Nuveen California Quality Municipal Income Fund (NYSE:NAC) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 206,200 shares, an increase of 37.5% from the April 30th total of 150,000 shares. Based on an average trading volume of 435,800 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of Nuveen California Quality Municipal Income Fund

Several large investors have recently modified their holdings of NAC. Guggenheim Capital LLC grew its stake in Nuveen California Quality Municipal Income Fund by 2.9% in the first quarter. Guggenheim Capital LLC now owns 1,602,299 shares of the company’s stock valued at $18,010,000 after acquiring an additional 44,933 shares during the period. Wells Fargo & Company MN grew its position in shares of Nuveen California Quality Municipal Income Fund by 3.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,125,822 shares of the company’s stock valued at $12,711,000 after acquiring an additional 33,447 shares during the period. Rockefeller Capital Management L.P. increased its position in Nuveen California Quality Municipal Income Fund by 9.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 933,059 shares of the company’s stock worth $10,534,000 after buying an additional 82,323 shares during the last quarter. Robinson Capital Management LLC increased its holdings in Nuveen California Quality Municipal Income Fund by 33.5% in the 4th quarter. Robinson Capital Management LLC now owns 814,746 shares of the company’s stock worth $9,198,000 after acquiring an additional 204,350 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Nuveen California Quality Municipal Income Fund by 12.7% in the first quarter. Advisors Asset Management Inc. now owns 643,970 shares of the company’s stock worth $7,238,000 after acquiring an additional 72,708 shares during the period.

Nuveen California Quality Municipal Income Fund Trading Down 0.0%

Shares of NAC stock opened at $10.93 on Wednesday. The business’s 50 day simple moving average is $10.86 and its 200 day simple moving average is $11.21. Nuveen California Quality Municipal Income Fund has a one year low of $10.35 and a one year high of $12.03.

Nuveen California Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.0735 per share. The ex-dividend date is Friday, June 13th. This represents a $0.88 annualized dividend and a dividend yield of 8.07%.

About Nuveen California Quality Municipal Income Fund

Nuveen California Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of California, United States. The fund invests in undervalued municipal securities and other related investments that are exempt from regular federal and California income taxes.