Nuveen California Municipal Value Fund (NYSE:NCA - Get Free Report) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 32,600 shares, a decline of 27.2% from the March 31st total of 44,800 shares. Based on an average daily volume of 56,600 shares, the days-to-cover ratio is presently 0.6 days.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in NCA. UBS Group AG grew its position in shares of Nuveen California Municipal Value Fund by 13.7% in the 3rd quarter. UBS Group AG now owns 1,025,429 shares of the company's stock worth $8,419,000 after acquiring an additional 123,644 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Nuveen California Municipal Value Fund by 15.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 343,363 shares of the company's stock valued at $2,819,000 after purchasing an additional 45,292 shares during the period. Virtu Financial LLC acquired a new position in Nuveen California Municipal Value Fund during the 4th quarter valued at approximately $290,000. Raymond James & Associates boosted its position in Nuveen California Municipal Value Fund by 69.8% during the 4th quarter. Raymond James & Associates now owns 66,913 shares of the company's stock valued at $600,000 after purchasing an additional 27,500 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in Nuveen California Municipal Value Fund during the 4th quarter valued at approximately $203,000. Institutional investors and hedge funds own 21.46% of the company's stock.
Nuveen California Municipal Value Fund Price Performance
NCA stock traded down $0.04 during midday trading on Friday, hitting $8.65. 77,640 shares of the company's stock were exchanged, compared to its average volume of 49,927. Nuveen California Municipal Value Fund has a 12-month low of $7.77 and a 12-month high of $9.12. The firm has a 50 day moving average price of $8.83 and a 200-day moving average price of $8.67.
Nuveen California Municipal Value Fund Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a $0.029 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.35 annualized dividend and a dividend yield of 4.02%.
About Nuveen California Municipal Value Fund
(
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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.
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