Nuveen California Quality Municipal Income Fund (NYSE:NAC) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Nuveen California Quality Municipal Income Fund (NYSE:NAC) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $11.43 and traded as low as $11.15. Nuveen California Quality Municipal Income Fund shares last traded at $11.20, with a volume of 649,091 shares traded.

Nuveen California Quality Municipal Income Fund Stock Performance

The stock has a 50-day moving average price of $11.42 and a two-hundred day moving average price of $11.61.

Nuveen California Quality Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be paid a $0.0735 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $0.88 dividend on an annualized basis and a yield of 7.89%.

Institutional Investors Weigh In On Nuveen California Quality Municipal Income Fund

Several institutional investors and hedge funds have recently modified their holdings of NAC. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Nuveen California Quality Municipal Income Fund in the second quarter worth about $82,000. CWM LLC raised its holdings in shares of Nuveen California Quality Municipal Income Fund by 253.9% during the 3rd quarter. CWM LLC now owns 7,018 shares of the company’s stock worth $83,000 after acquiring an additional 5,035 shares in the last quarter. Larson Financial Group LLC bought a new position in shares of Nuveen California Quality Municipal Income Fund during the 3rd quarter valued at approximately $119,000. CreativeOne Wealth LLC bought a new position in shares of Nuveen California Quality Municipal Income Fund during the 3rd quarter valued at approximately $128,000. Finally, XTX Topco Ltd purchased a new position in shares of Nuveen California Quality Municipal Income Fund in the second quarter valued at $145,000.

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.