Nuveen California Municipal Va (NYSE:NCA) Shares Shorted: Short Interest Down 36.4% in September

Key Points

• Short interest fell 36.4% to 26,241 shares as of September 15, down from 41,257 shares at the end of August. Short interest represents approximately 0.1% of outstanding shares, with a days-to-cover ratio of 0.3.
• NCA shares opened at $8.48, compared with a 52-week range of $8.22 to $9.80. The fund announced a monthly dividend of $0.03 per share, equating to an annualized yield of approximately 4.2%.
• Institutional investors have been active in the fund, and hedge funds and other institutions own 21.46% of its stock. NCA invests primarily in California municipal bonds to provide federally and state tax-exempt income.

Nuveen California Municipal Va (NYSE:NCA - Get Free Report) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 26,241 shares, a decline of 36.4% from the August 31st total of 41,257 shares. Based on an average trading volume of 81,681 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company's stock are sold short.

Nuveen California Municipal Va Price Performance

Shares of NYSE:NCA opened at $8.48 on Thursday. Nuveen California Municipal Va has a 52 week low of $8.22 and a 52 week high of $9.80. The company's 50 day moving average is $8.91 and its two-hundred day moving average is $9.17.

Nuveen California Municipal Va Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.03 dividend. This represents a $0.36 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Trading of Nuveen California Municipal Va

A number of institutional investors have recently bought and sold shares of NCA. D.A. Davidson & CO. increased its holdings in shares of Nuveen California Municipal Va by 18.1% in 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 last quarter. Fifth Third Bancorp purchased a new stake in Nuveen California Municipal Va during the first quarter worth approximately $67,000. Investor s Fiduciary Advisor Network LLC acquired a new position in Nuveen California Municipal Va in the second quarter valued at approximately $122,000. Readystate Asset Management LP acquired a new position in Nuveen California Municipal Va in the second quarter valued at approximately $169,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake 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 valued at $4,311,000 after purchasing an additional 38,762 shares during the last quarter. 21.46% of the stock is owned by hedge funds and other institutional investors.

About Nuveen California Municipal Va

Nuveen California Municipal Value Fund, Inc NYSE: NCA is a closed-end investment company managed by Nuveen. The fund seeks to provide current income that is exempt from regular federal income tax and California state personal income tax, making it primarily designed for investors seeking tax-advantaged income.

The fund invests mainly in municipal bonds and other municipal obligations issued by California state and local governments, as well as related public entities. These securities may help finance projects and services such as schools, transportation systems, utilities, health care facilities and other public infrastructure.

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