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

Key Points

• Short interest rose 75.1% in September to 45,946 shares, representing approximately 0.1% of Nuveen California Municipal Value Fund’s outstanding shares.
• NCA shares gained 1.0% to $8.24, but remained below their 50-day and 200-day moving averages and near the one-year low of $8.12.
• The fund declared a monthly dividend of $0.03 per share, or $0.36 annualized, implying a 4.4% yield; institutional investors own 21.46% of the fund.

Nuveen California Municipal Va (NYSE:NCA - Get Free Report) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 45,946 shares, an increase of 75.1% from the September 15th total of 26,241 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 145,396 shares, the short-interest ratio is currently 0.3 days.

Nuveen California Municipal Va Stock Up 1.0%

Nuveen California Municipal Va stock traded up $0.09 during mid-day trading on Thursday, hitting $8.24. 78,450 shares of the company's stock traded hands, compared to its average volume of 76,059. The firm has a 50 day moving average price of $8.76 and a 200 day moving average price of $9.11. Nuveen California Municipal Va has a one year low of $8.12 and a one year high of $9.80.

Nuveen California Municipal Va Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be paid a dividend of $0.03 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Thursday, October 15th.

Institutional Investors Weigh In On Nuveen California Municipal Va

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

About Nuveen California Municipal Va

Nuveen California Municipal Value Fund is a closed-end investment fund managed by Nuveen, an investment management firm specializing in income-oriented and alternative investments. The fund's primary objective is to provide current income that is exempt from regular federal income tax and California state personal income tax.

The fund invests primarily in municipal obligations issued by the state of California, its local governments, public agencies and other qualifying entities. Its portfolio may include bonds financing public infrastructure and essential services, such as transportation, utilities, education, health care and housing.

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