Nuveen California Municipal Va (NYSE:NCA) Shareholders to Receive $0.03 Monthly Dividend

Key Points

• Nuveen California Municipal Value Fund declared a monthly dividend of $0.03 per share, payable November 2 to shareholders of record on October 15. The annualized payout is $0.36 per share, representing a 4.3% yield.
• NCA shares opened at $8.40, near the lower end of their 52-week range of $8.22 to $9.80, with 50-day and 200-day moving averages of $8.90 and $9.17, respectively.
• Institutional investors own 21.46% of the fund, with several firms recently increasing their positions. The closed-end fund invests primarily in California municipal bonds to provide federally and California state tax-exempt income.

Nuveen California Municipal Va (NYSE:NCA - Get Free Report) announced a monthly dividend on Thursday, October 1st. Shareholders of record on Thursday, October 15th will be given a dividend of $0.03 per share on Monday, November 2nd. This represents a $0.36 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Thursday, October 15th.

Nuveen California Municipal Va Stock Performance

Shares of NCA opened at $8.40 on Friday. Nuveen California Municipal Va has a 1 year low of $8.22 and a 1 year high of $9.80. The business has a 50-day moving average of $8.90 and a 200-day moving average of $9.17.

Institutional Investors Weigh In On Nuveen California Municipal Va

Several hedge funds have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Nuveen California Municipal Va by 9.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 462,105 shares of the company's stock valued at $4,311,000 after purchasing an additional 38,762 shares during the last quarter. Bank of America Corp DE raised its holdings in Nuveen California Municipal Va by 55.3% in the 1st quarter. Bank of America Corp DE now owns 163,915 shares of the company's stock valued at $1,538,000 after acquiring an additional 58,338 shares during the last quarter. D.A. Davidson & CO. increased its position in shares of Nuveen California Municipal Va by 18.1% in the first quarter. D.A. Davidson & CO. now owns 34,657 shares of the company's stock worth $325,000 after acquiring an additional 5,310 shares in the last quarter. Readystate Asset Management LP purchased a new position in shares of Nuveen California Municipal Va during the 2nd quarter valued at approximately $169,000. Finally, Investor s Fiduciary Advisor Network LLC acquired a new stake in Nuveen California Municipal Va in the second quarter worth $122,000. Hedge funds and other institutional investors own 21.46% of the company's stock.

Nuveen California Municipal Va Company Profile

Nuveen California Municipal Value Fund, Inc NYSE: NCA is a closed-end investment company managed by Nuveen. The fund seeks to provide current income that is exempt from regular federal income tax and California state personal income tax, making it primarily designed for investors seeking tax-advantaged income.

The fund invests mainly in municipal bonds and other municipal obligations issued by California state and local governments, as well as related public entities. These securities may help finance projects and services such as schools, transportation systems, utilities, health care facilities and other public infrastructure.

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