Nuveen California Quality Municipal Income Fund (NYSE:NAC) Short Interest Up 329.1% in January

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Nuveen California Quality Municipal Income Fund (NYSE:NAC) was the target of a significant growth in short interest in January. As of January 29th, there was short interest totalling 23,600 shares, a growth of 329.1% from the January 14th total of 5,500 shares. Based on an average daily trading volume, of 182,500 shares, the days-to-cover ratio is presently 0.1 days.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pacific Wealth Strategies Group Inc. boosted its holdings in shares of Nuveen California Quality Municipal Income Fund by 22.5% during the third quarter. Pacific Wealth Strategies Group Inc. now owns 592,467 shares of the company’s stock worth $8,626,000 after purchasing an additional 108,736 shares during the period. Wells Fargo & Company MN lifted its position in Nuveen California Quality Municipal Income Fund by 9.8% in the 3rd quarter. Wells Fargo & Company MN now owns 986,592 shares of the company’s stock worth $14,365,000 after buying an additional 87,663 shares in the last quarter. KWB Wealth acquired a new stake in shares of Nuveen California Quality Municipal Income Fund during the 4th quarter valued at $1,002,000. D.A. Davidson & CO. grew its holdings in shares of Nuveen California Quality Municipal Income Fund by 17.9% during the 4th quarter. D.A. Davidson & CO. now owns 384,463 shares of the company’s stock valued at $5,828,000 after acquiring an additional 58,459 shares in the last quarter. Finally, Robinson Capital Management LLC increased its stake in shares of Nuveen California Quality Municipal Income Fund by 62.5% in the third quarter. Robinson Capital Management LLC now owns 128,747 shares of the company’s stock worth $1,875,000 after acquiring an additional 49,504 shares during the last quarter.

NYSE:NAC traded down $0.07 during trading hours on Thursday, hitting $15.23. 1,787 shares of the company’s stock traded hands, compared to its average volume of 203,231. The stock’s fifty day moving average price is $15.00 and its two-hundred day moving average price is $14.83. Nuveen California Quality Municipal Income Fund has a twelve month low of $10.85 and a twelve month high of $15.66.

The firm also recently announced a monthly dividend, which will be paid on Monday, March 1st. Shareholders of record on Friday, February 12th will be paid a dividend of $0.0545 per share. The ex-dividend date is Thursday, February 11th. This represents a $0.65 annualized dividend and a yield of 4.29%.

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.

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