Nuveen California Municipal Va (NYSE:NCA) Sees Significant Decrease in Short Interest

Key Points

• Short interest fell 50.4% to 14,280 shares as of July 31, down from 28,783 shares on July 15. Short interest represented approximately 0.0% of outstanding shares, with a short-interest ratio of 0.2 days.
• NCA shares declined 0.1% to $9.17, compared with a 52-week range of $8.40 to $9.80. The fund declared a monthly dividend of $0.03 per share, implying a 3.9% yield.
• Institutional investors own 21.46% of the fund, while several hedge funds and financial institutions recently initiated or increased positions. NCA invests primarily in California municipal securities to generate federally and California state tax-exempt income.

Nuveen California Municipal Va (NYSE:NCA - Get Free Report) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 14,280 shares, a decline of 50.4% from the July 15th total of 28,783 shares. Based on an average trading volume of 82,634 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the company's stock are sold short.

Nuveen California Municipal Va Trading Down 0.1%

Shares of NYSE:NCA traded down $0.01 during trading hours on Friday, reaching $9.17. The stock had a trading volume of 77,424 shares, compared to its average volume of 70,034. Nuveen California Municipal Va has a 1 year low of $8.40 and a 1 year high of $9.80. The firm's 50 day moving average is $9.21 and its 200-day moving average is $9.32.

Nuveen California Municipal Va Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.03 per share. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, August 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NCA. Advisory Services Network LLC purchased a new stake in Nuveen California Municipal Va during the third quarter worth approximately $33,000. Comerica Bank acquired a new position in shares of Nuveen California Municipal Va in the 1st quarter valued at $62,000. Fifth Third Bancorp acquired a new position in shares of Nuveen California Municipal Va in the 1st quarter valued at $67,000. Investor s Fiduciary Advisor Network LLC purchased a new position in shares of Nuveen California Municipal Va in the 2nd quarter valued at $122,000. Finally, Ieq Capital LLC grew its position in shares of Nuveen California Municipal Va by 19.0% in the 4th quarter. Ieq Capital LLC now owns 15,000 shares of the company's stock valued at $134,000 after buying an additional 2,390 shares during the last quarter. Hedge funds and other institutional investors own 21.46% of the company's stock.

About Nuveen California Municipal Va

Nuveen California Municipal Value Fund, Inc NYSE: NCA is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal and California state income taxes. The fund pursues its objective by investing substantially all of its assets in a diversified portfolio of municipal securities issued by entities located in or having projects based in California. Its holdings primarily include revenue and general obligation bonds, with an emphasis on investment-grade and select high-yield issues.

The portfolio management team employs a disciplined credit analysis process to assess the financial strength, revenue streams and underlying collateral of each issuer.

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