Nuveen California Municipal Va (NYSE:NCA) Sees Large Increase in Short Interest

Key Points

• Nuveen California Municipal Va (NYSE:NCA) experienced a 116.7% increase in short interest in September, with totals reaching 49,400 shares compared to 22,800 shares in August.
• Institutional investors collectively own 21.46% of the company's stock, with notable increases in stakes from Wedbush Securities, Steward Partners, and HighTower Advisors.
• The fund declared a monthly dividend of $0.029 per share, set to be paid on November 3rd, representing a 3.9% annualized yield.

Nuveen California Municipal Va (NYSE:NCA - ) saw a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 49,400 shares, an increase of 116.7% from the August 31st total of 22,800 shares. Based on an average daily volume of 76,000 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 76,000 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On Nuveen California Municipal Va

Several institutional investors have recently added to or reduced their stakes in the stock. Wedbush Securities Inc. boosted its position in Nuveen California Municipal Va by 4.7% during the first quarter. Wedbush Securities Inc. now owns 26,964 shares of the company's stock worth $233,000 after purchasing an additional 1,200 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Nuveen California Municipal Va by 8.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 16,200 shares of the company's stock worth $141,000 after purchasing an additional 1,200 shares during the last quarter. Cetera Investment Advisers lifted its position in Nuveen California Municipal Va by 5.4% during the first quarter. Cetera Investment Advisers now owns 38,530 shares of the company's stock valued at $333,000 after purchasing an additional 1,964 shares during the last quarter. Olde Wealth Management LLC bought a new stake in Nuveen California Municipal Va during the first quarter valued at approximately $26,000. Finally, HighTower Advisors LLC lifted its position in Nuveen California Municipal Va by 20.0% during the first quarter. HighTower Advisors LLC now owns 24,000 shares of the company's stock valued at $208,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors own 21.46% of the company's stock.

Nuveen California Municipal Va Stock Performance

Shares of NCA stock traded up $0.03 on Friday, hitting $9.01. The stock had a trading volume of 78,900 shares, compared to its average volume of 89,702. The business has a 50 day moving average of $8.61 and a 200 day moving average of $8.54. Nuveen California Municipal Va has a 12-month low of $8.22 and a 12-month high of $9.20.

Nuveen California Municipal Va Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be given a dividend of $0.029 per share. The ex-dividend date is Wednesday, October 15th. This represents a c) annualized dividend and a yield of 3.9%.

Nuveen California Municipal Va Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.