Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock Passes Below 50-Day Moving Average of $10.98

Nuveen California Quality Municipal Income Fund (NYSE:NAC) shares passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $10.98 and traded as low as $10.67. Nuveen California Quality Municipal Income Fund shares last traded at $10.78, with a volume of 337,843 shares changing hands.

Nuveen California Quality Municipal Income Fund Price Performance

The company’s fifty day moving average is $10.97 and its two-hundred day moving average is $10.63.

Nuveen California Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a dividend of $0.049 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.59 dividend on an annualized basis and a dividend yield of 5.47%.

Institutional Investors Weigh In On Nuveen California Quality Municipal Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Saba Capital Management L.P. lifted its position in shares of Nuveen California Quality Municipal Income Fund by 63.9% during the 3rd quarter. Saba Capital Management L.P. now owns 6,751,010 shares of the company’s stock valued at $65,147,000 after buying an additional 2,630,893 shares in the last quarter. Karpus Management Inc. lifted its position in shares of Nuveen California Quality Municipal Income Fund by 35.2% during the 4th quarter. Karpus Management Inc. now owns 6,288,053 shares of the company’s stock valued at $69,735,000 after buying an additional 1,637,169 shares in the last quarter. Beach Point Capital Management LP lifted its position in shares of Nuveen California Quality Municipal Income Fund by 56.0% during the 4th quarter. Beach Point Capital Management LP now owns 1,398,081 shares of the company’s stock valued at $15,505,000 after buying an additional 501,645 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Nuveen California Quality Municipal Income Fund by 1.1% during the 2nd quarter. Wells Fargo & Company MN now owns 1,202,271 shares of the company’s stock valued at $14,825,000 after buying an additional 12,728 shares in the last quarter. Finally, Mariner LLC purchased a new position in shares of Nuveen California Quality Municipal Income Fund during the 4th quarter valued at approximately $7,568,000.

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.