Nuveen California Quality Municipal Income Fund (NYSE:NAC) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

Nuveen California Quality Municipal Income Fund (NYSE:NAC) shares crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $10.96 and traded as low as $10.82. Nuveen California Quality Municipal Income Fund shares last traded at $10.92, with a volume of 404,180 shares traded.

Nuveen California Quality Municipal Income Fund Price Performance

The business has a fifty day simple moving average of $10.96 and a 200-day simple moving average of $11.26.

Nuveen California Quality Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a $0.0735 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 8.08%.

Institutional Investors Weigh In On Nuveen California Quality Municipal Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Guggenheim Capital LLC increased its stake in shares of Nuveen California Quality Municipal Income Fund by 2.9% in the first quarter. Guggenheim Capital LLC now owns 1,602,299 shares of the company’s stock valued at $18,010,000 after buying an additional 44,933 shares during the period. Wells Fargo & Company MN increased its stake in shares of Nuveen California Quality Municipal Income Fund by 3.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,125,822 shares of the company’s stock valued at $12,711,000 after buying an additional 33,447 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Nuveen California Quality Municipal Income Fund by 9.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 933,059 shares of the company’s stock valued at $10,534,000 after buying an additional 82,323 shares during the period. Robinson Capital Management LLC increased its stake in shares of Nuveen California Quality Municipal Income Fund by 33.5% in the fourth quarter. Robinson Capital Management LLC now owns 814,746 shares of the company’s stock valued at $9,198,000 after buying an additional 204,350 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of Nuveen California Quality Municipal Income Fund by 12.7% in the first quarter. Advisors Asset Management Inc. now owns 643,970 shares of the company’s stock valued at $7,238,000 after buying an additional 72,708 shares during the period.

About Nuveen California Quality Municipal Income Fund

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.