Nuveen California Quality Municipal Income Fund (NYSE:NAC) Short Interest Up 49.3% in May

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Nuveen California Quality Municipal Income Fund (NYSE:NACGet Rating) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 20,300 shares, a growth of 49.3% from the May 15th total of 13,600 shares. Based on an average trading volume of 360,100 shares, the days-to-cover ratio is currently 0.1 days.

Several large investors have recently bought and sold shares of NAC. FNY Investment Advisers LLC acquired a new position in shares of Nuveen California Quality Municipal Income Fund during the 1st quarter valued at $26,000. UMB Bank N A MO increased its stake in Nuveen California Quality Municipal Income Fund by 228.2% during the 1st quarter. UMB Bank N A MO now owns 2,025 shares of the company’s stock worth $27,000 after buying an additional 1,408 shares during the period. Prospera Financial Services Inc purchased a new stake in Nuveen California Quality Municipal Income Fund during the 1st quarter worth $32,000. Segantii Capital Management Ltd purchased a new stake in Nuveen California Quality Municipal Income Fund during the 4th quarter worth $39,000. Finally, CWM LLC increased its stake in Nuveen California Quality Municipal Income Fund by 17.5% during the 1st quarter. CWM LLC now owns 6,152 shares of the company’s stock worth $81,000 after buying an additional 916 shares during the period.

Shares of NYSE:NAC traded down $0.13 during midday trading on Wednesday, hitting $11.58. 3,456 shares of the company’s stock traded hands, compared to its average volume of 320,517. The firm’s fifty day moving average price is $12.23 and its two-hundred day moving average price is $13.61. Nuveen California Quality Municipal Income Fund has a twelve month low of $11.30 and a twelve month high of $16.22.

The firm also recently announced a monthly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be issued a dividend of $0.0515 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $0.62 annualized dividend and a dividend yield of 5.34%.

About Nuveen California Quality Municipal Income Fund (Get Rating)

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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