Short Interest in Nuveen California Quality Municipal Income Fund (NYSE:NAC) Grows By 105.8%

Nuveen California Quality Municipal Income Fund (NYSE:NAC) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 57,200 shares, an increase of 105.8% from the August 15th total of 27,800 shares. Based on an average trading volume of 126,400 shares, the days-to-cover ratio is currently 0.5 days.

Several large investors have recently added to or reduced their stakes in the company. UBS Group AG raised its position in shares of Nuveen California Quality Municipal Income Fund by 3.6% in the first quarter. UBS Group AG now owns 2,509,477 shares of the company’s stock valued at $37,291,000 after purchasing an additional 86,224 shares during the period. Rivernorth Capital Management LLC raised its position in shares of Nuveen California Quality Municipal Income Fund by 23.1% in the second quarter. Rivernorth Capital Management LLC now owns 2,096,176 shares of the company’s stock valued at $33,224,000 after purchasing an additional 392,894 shares during the period. Pacific Wealth Strategies Group Inc. grew its stake in shares of Nuveen California Quality Municipal Income Fund by 2.9% in the second quarter. Pacific Wealth Strategies Group Inc. now owns 663,852 shares of the company’s stock worth $10,522,000 after acquiring an additional 18,998 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Nuveen California Quality Municipal Income Fund by 7.0% in the first quarter. Royal Bank of Canada now owns 369,637 shares of the company’s stock worth $5,493,000 after acquiring an additional 24,055 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Nuveen California Quality Municipal Income Fund by 22.3% in the second quarter. Bank of America Corp DE now owns 235,564 shares of the company’s stock worth $3,734,000 after acquiring an additional 42,977 shares during the last quarter.

Shares of NAC opened at $15.83 on Friday. The firm’s 50 day moving average price is $15.95 and its 200 day moving average price is $15.49. Nuveen California Quality Municipal Income Fund has a twelve month low of $14.36 and a twelve month high of $16.22.

The company also recently declared a monthly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 15th will be given a $0.0545 dividend. This represents a $0.65 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Tuesday, September 14th.

Nuveen California Quality Municipal Income Fund Company Profile

Nuveen California Quality Municipal Income Fund operates as a closed-end investment fund/investment trust. The fund seeks current income exempt from both regular federal income taxes and California personal income tax by investing its assets majorly in investment-grade quality municipal bonds. It was founded on December 1, 1998 and is headquartered in Chicago, IL.

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