Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock Crosses Below 50 Day Moving Average – Here’s Why

Nuveen California Quality Municipal Income Fund (NYSE:NAC)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $10.43 and traded as low as $10.21. Nuveen California Quality Municipal Income Fund shares last traded at $10.2550, with a volume of 1,043,646 shares traded.

Nuveen California Quality Municipal Income Fund Trading Down 1.8%

The stock’s fifty day simple moving average is $10.43 and its two-hundred day simple moving average is $11.51.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a dividend of $0.0695 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.83 annualized dividend and a dividend yield of 8.1%.

Hedge Funds Weigh In On Nuveen California Quality Municipal Income Fund

A number of hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC acquired a new stake in Nuveen California Quality Municipal Income Fund in the second quarter valued at $45,000. Sanders Morris Harris LLC bought a new position in Nuveen California Quality Municipal Income Fund during the 3rd quarter worth $102,000. Argyle Capital Partners LLC bought a new position in Nuveen California Quality Municipal Income Fund during the 3rd quarter worth $102,000. Cypress Wealth Services LLC bought a new position in Nuveen California Quality Municipal Income Fund during the 3rd quarter worth $104,000. Finally, Axxcess Wealth Management LLC acquired a new position in Nuveen California Quality Municipal Income Fund during the 3rd quarter worth about $122,000.

About Nuveen California Quality Municipal Income Fund

Nuveen California Quality Municipal Income Fund (NYSE: NAC) is a closed-end management investment company designed to provide current income that is generally exempt from regular federal and California state income taxes. The fund invests primarily in municipal securities issued by or on behalf of California state and local governments, public authorities, and other governmental entities. Its portfolio may include a range of investment-grade and below-investment-grade municipal bonds, including general obligation bonds, revenue bonds, and other tax-exempt obligations.