Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock Crosses Below 50-Day Moving Average – What’s Next?

Nuveen California Quality Municipal Income Fund (NYSE:NAC) shares passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $10.82 and traded as low as $10.02. Nuveen California Quality Municipal Income Fund shares last traded at $10.1450, with a volume of 1,535,620 shares trading hands.

Nuveen California Quality Municipal Income Fund Trading Up 1.7%

The company’s 50 day moving average price is $10.82 and its 200-day moving average price is $11.52.

Nuveen California Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be given a $0.0695 dividend. This represents a $0.83 annualized dividend and a dividend yield of 8.2%. The ex-dividend date of this dividend is Thursday, October 15th.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

A number of large investors have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in shares of Nuveen California Quality Municipal Income Fund in the 2nd quarter worth about $45,000. Sanders Morris Harris LLC acquired a new position in shares of Nuveen California Quality Municipal Income Fund in the 3rd quarter valued at about $102,000. Cypress Wealth Services LLC purchased a new stake in shares of Nuveen California Quality Municipal Income Fund during the 3rd quarter worth about $104,000. Axxcess Wealth Management LLC purchased a new stake in shares of Nuveen California Quality Municipal Income Fund during the 3rd quarter worth about $122,000. Finally, Ameritas Advisory Services LLC grew its holdings in shares of Nuveen California Quality Municipal Income Fund by 25.0% during the 2nd quarter. Ameritas Advisory Services LLC now owns 15,202 shares of the company’s stock worth $184,000 after purchasing an additional 3,045 shares during the period.

About Nuveen California Quality Municipal Income Fund

Nuveen California Quality Municipal Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol NAC. The fund seeks to provide current income that is exempt from regular federal income tax and California state income tax by investing primarily in municipal securities issued by California state and local governments, public authorities and related entities.

The fund’s portfolio may include general obligation bonds, revenue bonds and other tax-exempt municipal debt used to finance public services and infrastructure, such as education, transportation, utilities and health care facilities.