Short Interest in Nuveen California Municipal Value Fund (NYSE:NCA) Drops By 18.7%

Nuveen California Municipal Value Fund (NYSE:NCA) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 40,500 shares, a decrease of 18.7% from the September 30th total of 49,800 shares. Based on an average trading volume of 55,200 shares, the days-to-cover ratio is presently 0.7 days.

Nuveen California Municipal Value Fund Stock Performance

NYSE:NCA traded down $0.01 on Wednesday, reaching $8.89. The stock had a trading volume of 63,714 shares, compared to its average volume of 58,527. The company has a 50-day moving average of $9.09 and a 200 day moving average of $8.86. Nuveen California Municipal Value Fund has a 12-month low of $7.84 and a 12-month high of $9.23.

Nuveen California Municipal Value Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.029 per share. This represents a $0.35 annualized dividend and a dividend yield of 3.91%. The ex-dividend date is Tuesday, October 15th.

Institutional Trading of Nuveen California Municipal Value Fund

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Nuveen California Municipal Value Fund in the 2nd quarter worth approximately $63,000. James Investment Research Inc. bought a new stake in Nuveen California Municipal Value Fund during the third quarter valued at $93,000. Watts Gwilliam & Co. LLC acquired a new stake in shares of Nuveen California Municipal Value Fund during the third quarter worth $98,000. Farther Finance Advisors LLC acquired a new position in shares of Nuveen California Municipal Value Fund in the 3rd quarter valued at about $117,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Nuveen California Municipal Value Fund during the 2nd quarter valued at about $119,000. 21.46% of the stock is owned by institutional investors and hedge funds.

About Nuveen California Municipal Value Fund

Nuveen California Municipal Value 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. The fund invests primarily in municipal securities rated Baa/BBB or better.