Nuveen California Quality Municipal Income Fund (NYSE:NAC) Stock Price Passes Below 50 Day Moving Average – Should You Sell?

Shares of Nuveen California Quality Municipal Income Fund (NYSE:NAC) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $11.82 and traded as low as $11.76. Nuveen California Quality Municipal Income Fund shares last traded at $11.76, with a volume of 578,383 shares traded.

Nuveen California Quality Municipal Income Fund Price Performance

The firm has a 50-day moving average price of $11.82 and a 200-day moving average price of $11.43.

Nuveen California Quality Municipal Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be issued a $0.073 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $0.88 dividend on an annualized basis and a yield of 7.45%.

Institutional Trading of Nuveen California Quality Municipal Income Fund

A number of hedge funds have recently modified their holdings of NAC. EP Wealth Advisors LLC lifted its position in Nuveen California Quality Municipal Income Fund by 14.5% during the 4th quarter. EP Wealth Advisors LLC now owns 16,010 shares of the company’s stock valued at $178,000 after acquiring an additional 2,024 shares during the period. Nomura Holdings Inc. purchased a new position in shares of Nuveen California Quality Municipal Income Fund during the fourth quarter valued at approximately $140,000. Sanders Morris Harris LLC bought a new stake in shares of Nuveen California Quality Municipal Income Fund in the 1st quarter worth approximately $110,000. International Assets Investment Management LLC grew its stake in shares of Nuveen California Quality Municipal Income Fund by 7.5% in the 1st quarter. International Assets Investment Management LLC now owns 26,600 shares of the company’s stock worth $293,000 after buying an additional 1,860 shares during the last quarter. Finally, Southland Equity Partners LLC grew its stake in shares of Nuveen California Quality Municipal Income Fund by 43.2% in the 1st quarter. Southland Equity Partners LLC now owns 90,940 shares of the company’s stock worth $1,002,000 after buying an additional 27,440 shares during the last quarter.

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.