Nuveen California Quality Municipal Income Fund (NYSE:NAC) to Issue $0.07 Monthly Dividend

Nuveen California Quality Municipal Income Fund (NYSE:NAC) declared a monthly dividend on Wednesday, July 1st. Stockholders of record on Wednesday, July 15th will be given a dividend of 0.0695 per share on Monday, August 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Wednesday, July 15th.

Nuveen California Quality Municipal Income Fund Stock Performance

NYSE NAC opened at $12.18 on Thursday. Nuveen California Quality Municipal Income Fund has a twelve month low of $10.90 and a twelve month high of $12.25. The stock’s 50 day moving average is $11.94 and its 200 day moving average is $11.87.

Institutional Trading of Nuveen California Quality Municipal Income Fund

A number of hedge funds have recently modified their holdings of NAC. Royal Bank of Canada grew its position in shares of Nuveen California Quality Municipal Income Fund by 8.1% in the 1st quarter. Royal Bank of Canada now owns 125,135 shares of the company’s stock worth $1,407,000 after buying an additional 9,425 shares during the period. NewEdge Advisors LLC lifted its position in Nuveen California Quality Municipal Income Fund by 41.6% during the 1st quarter. NewEdge Advisors LLC now owns 70,068 shares of the company’s stock valued at $788,000 after acquiring an additional 20,593 shares during the period. Jane Street Group LLC purchased a new position in Nuveen California Quality Municipal Income Fund during the 1st quarter valued at about $300,000. Ameriprise Financial Inc. boosted its stake in Nuveen California Quality Municipal Income Fund by 3.9% during the second quarter. Ameriprise Financial Inc. now owns 118,150 shares of the company’s stock worth $1,320,000 after acquiring an additional 4,399 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Nuveen California Quality Municipal Income Fund by 8.3% during the second quarter. Bank of America Corp DE now owns 494,618 shares of the company’s stock worth $5,525,000 after acquiring an additional 37,729 shares in the last quarter.

About Nuveen California Quality Municipal Income Fund

Nuveen California Quality Municipal Income Fund (NYSE: NAC) is a closed-end management investment company that seeks to provide investors with a high level of current income exempt from federal and California state income taxes, with a secondary objective of capital appreciation. The fund primarily acquires a diversified portfolio of municipal securities issued by entities located in California, focusing on investment-grade bonds. These securities typically include general obligation bonds, revenue bonds and other taxable or tax-advantaged instruments that finance public projects such as transportation, education and utilities.

In managing the portfolio, the fund’s investment team applies rigorous credit research to identify issuers with strong balance sheets, stable revenue streams and manageable debt levels.