Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock Price Passes Below 50-Day Moving Average – Here’s Why

Shares of Nuveen California Quality Municipal Income Fund (NYSE:NAC) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $11.82 and traded as low as $11.76. Nuveen California Quality Municipal Income Fund shares last traded at $11.76, with a volume of 578,383 shares trading hands.

Nuveen California Quality Municipal Income Fund Stock Performance

The business has a 50 day moving average price of $11.82 and a two-hundred day moving average price of $11.43.

Nuveen California Quality Municipal Income Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.073 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.88 annualized dividend and a yield of 7.45%.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of Nuveen California Quality Municipal Income Fund by 3.8% in the second quarter. International Assets Investment Management LLC now owns 27,600 shares of the company’s stock worth $318,000 after purchasing an additional 1,000 shares during the last quarter. EP Wealth Advisors LLC increased its stake in shares of Nuveen California Quality Municipal Income Fund by 9.2% during the second quarter. EP Wealth Advisors LLC now owns 15,208 shares of the company’s stock valued at $175,000 after buying an additional 1,281 shares during the period. Ignite Planners LLC raised its holdings in shares of Nuveen California Quality Municipal Income Fund by 0.6% during the second quarter. Ignite Planners LLC now owns 213,998 shares of the company’s stock valued at $2,487,000 after acquiring an additional 1,340 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in Nuveen California Quality Municipal Income Fund by 12.0% in the first quarter. Oppenheimer & Co. Inc. now owns 16,065 shares of the company’s stock worth $177,000 after acquiring an additional 1,727 shares during the period. Finally, RHS Financial LLC lifted its stake in Nuveen California Quality Municipal Income Fund by 6.5% in the second quarter. RHS Financial LLC now owns 29,147 shares of the company’s stock worth $336,000 after acquiring an additional 1,777 shares during the period.

Nuveen California Quality Municipal Income Fund Company Profile

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.