Nuveen California Quality Municipal Income Fund (NYSE:NAC) Short Interest Down 20.5% in October

Nuveen California Quality Municipal Income Fund (NYSE:NAC) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 90,000 shares, a decline of 20.5% from the October 15th total of 113,200 shares. Based on an average trading volume of 516,700 shares, the days-to-cover ratio is currently 0.2 days.

Nuveen California Quality Municipal Income Fund Stock Performance

NYSE:NAC traded down $0.04 on Friday, hitting $11.40. 400,851 shares of the stock were exchanged, compared to its average volume of 412,347. Nuveen California Quality Municipal Income Fund has a 52 week low of $10.24 and a 52 week high of $12.03. The company’s 50-day moving average price is $11.72 and its 200 day moving average price is $11.54.

Nuveen California Quality Municipal Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a dividend of $0.0735 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.74%. This is an increase from Nuveen California Quality Municipal Income Fund’s previous monthly dividend of $0.07. The ex-dividend date is Friday, November 15th.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of NAC. Oppenheimer & Co. Inc. raised its position in shares of Nuveen California Quality Municipal Income Fund by 12.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 16,065 shares of the company’s stock valued at $177,000 after acquiring an additional 1,727 shares during the last quarter. Robinson Capital Management LLC grew its stake in shares of Nuveen California Quality Municipal Income Fund by 43.0% during the first quarter. Robinson Capital Management LLC now owns 443,150 shares of the company’s stock worth $4,788,000 after purchasing an additional 133,227 shares during the period. Advisors Asset Management Inc. increased its holdings in Nuveen California Quality Municipal Income Fund by 9.0% in the first quarter. Advisors Asset Management Inc. now owns 572,175 shares of the company’s stock valued at $6,305,000 after purchasing an additional 47,111 shares during the last quarter. Whitebox Advisors LLC acquired a new position in Nuveen California Quality Municipal Income Fund in the first quarter valued at about $4,106,000. Finally, Comerica Bank lifted its stake in Nuveen California Quality Municipal Income Fund by 228.7% in the first quarter. Comerica Bank now owns 25,215 shares of the company’s stock valued at $278,000 after buying an additional 17,543 shares during the period.

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.