Nuveen California Municipal Va (NYSE:NCA) Short Interest Up 96.9% in June

Key Points

• Short interest in Nuveen California Municipal Va surged 96.9% in June, rising to 27,203 shares as of June 30 from 13,816 shares on June 15. That equals about 0.1% of shares sold short, with a days-to-cover ratio of 0.5 days.
• The fund’s shares were trading at $9.35, near both its 50-day and 200-day moving averages of about $9.34 and $9.33. Over the past year, the stock has ranged from a low of $8.40 to a high of $9.80.
• Nuveen California Municipal Va declared a monthly dividend of $0.03 per share, payable August 3 to shareholders of record on July 15. The dividend annualizes to a yield of about 3.9%.

Nuveen California Municipal Va (NYSE:NCA - Get Free Report) saw a significant growth in short interest in June. As of June 30th, there was short interest totaling 27,203 shares, a growth of 96.9% from the June 15th total of 13,816 shares. Based on an average daily volume of 55,635 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the shares of the stock are sold short.

Nuveen California Municipal Va Price Performance

NCA stock opened at $9.35 on Thursday. The firm has a 50 day simple moving average of $9.34 and a two-hundred day simple moving average of $9.33. Nuveen California Municipal Va has a one year low of $8.40 and a one year high of $9.80.

Nuveen California Municipal Va Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 3.9%.

Institutional Trading of Nuveen California Municipal Va

Several hedge funds have recently added to or reduced their stakes in NCA. Hennion & Walsh Asset Management Inc. boosted its position in Nuveen California Municipal Va by 9.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 462,105 shares of the company's stock valued at $4,311,000 after buying an additional 38,762 shares during the period. Bank of America Corp DE boosted its holdings in Nuveen California Municipal Va by 55.3% during 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 period. D.A. Davidson & CO. boosted its holdings in Nuveen California Municipal Va by 18.1% during the 1st quarter. D.A. Davidson & CO. now owns 34,657 shares of the company's stock valued at $325,000 after acquiring an additional 5,310 shares during the period. Fifth Third Bancorp bought a new position in Nuveen California Municipal Va during the 1st quarter worth approximately $67,000. Finally, Virtu Financial LLC purchased a new position in Nuveen California Municipal Va in the 4th quarter worth approximately $140,000. 21.46% of the stock is owned by institutional investors.

Nuveen California Municipal Va Company Profile

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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