Nuveen California Municipal Va (NYSE:NCA) Sees Significant Drop in Short Interest

Nuveen California Municipal Va (NYSE:NCA) was the recipient of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 47,188 shares, a decline of 37.6% from the February 26th total of 75,626 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 70,154 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On Nuveen California Municipal Va

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG increased its position in shares of Nuveen California Municipal Va by 38.8% during the fourth quarter. UBS Group AG now owns 1,792,954 shares of the company’s stock valued at $16,047,000 after acquiring an additional 501,505 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Nuveen California Municipal Va by 40.0% in the 4th quarter. Advisors Asset Management Inc. now owns 1,070,770 shares of the company’s stock valued at $9,583,000 after acquiring an additional 306,174 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Nuveen California Municipal Va by 10.4% during the 2nd quarter. Guggenheim Capital LLC now owns 711,069 shares of the company’s stock valued at $6,172,000 after purchasing an additional 67,225 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Nuveen California Municipal Va by 24.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 370,139 shares of the company’s stock valued at $3,313,000 after purchasing an additional 71,944 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Nuveen California Municipal Va by 4.4% in the 1st quarter. Royal Bank of Canada now owns 144,263 shares of the company’s stock worth $1,248,000 after purchasing an additional 6,072 shares in the last quarter. Institutional investors own 21.46% of the company’s stock.

Nuveen California Municipal Va Stock Performance

NCA stock traded up $0.02 during trading on Friday, hitting $9.06. 34,090 shares of the stock traded hands, compared to its average volume of 73,588. Nuveen California Municipal Va has a 1 year low of $8.22 and a 1 year high of $9.80. The firm’s 50 day moving average is $9.40 and its two-hundred day moving average is $9.10.

Nuveen California Municipal Va Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be paid a $0.03 dividend. This is a boost from Nuveen California Municipal Va’s previous monthly dividend of $0.03. This represents a c) annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, March 13th.

About Nuveen California Municipal Va

Nuveen California Municipal Value Fund, Inc (NYSE: NCA) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal and California state income taxes. The fund pursues its objective by investing substantially all of its assets in a diversified portfolio of municipal securities issued by entities located in or having projects based in California. Its holdings primarily include revenue and general obligation bonds, with an emphasis on investment-grade and select high-yield issues.

The portfolio management team employs a disciplined credit analysis process to assess the financial strength, revenue streams and underlying collateral of each issuer.