Nuveen California Municipal Va (NYSE:NCA) Short Interest Update

Key Points

• Short interest more than doubled to 41,257 shares as of August 31, up 104.7% from mid-August. Short interest represents approximately 0.1% of outstanding shares, with a days-to-cover ratio of 0.7.
• Institutional ownership stands at 21.46%, with several firms increasing their positions and two investors establishing new stakes during the first and second quarters.
• Shares recently fell 0.6% to $8.83, while the fund announced a monthly dividend of $0.03 per share, implying an annualized yield of about 4.1%.

Nuveen California Municipal Va (NYSE:NCA - Get Free Report) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 41,257 shares, a growth of 104.7% from the August 15th total of 20,151 shares. Based on an average daily trading volume, of 61,571 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.1% of the company's stock are short sold.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. lifted its holdings in Nuveen California Municipal Va by 9.2% during the 2nd 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. Bank of America Corp DE lifted its stake in shares of 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 worth $1,538,000 after buying an additional 58,338 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of 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 worth $325,000 after buying an additional 5,310 shares during the last quarter. Readystate Asset Management LP bought a new stake in shares of Nuveen California Municipal Va during the 2nd quarter worth about $169,000. Finally, Investor s Fiduciary Advisor Network LLC acquired a new position in Nuveen California Municipal Va in the 2nd quarter valued at about $122,000. 21.46% of the stock is owned by institutional investors and hedge funds.

Nuveen California Municipal Va Stock Down 0.6%

Shares of Nuveen California Municipal Va stock traded down $0.05 during trading on Monday, hitting $8.83. 100,559 shares of the stock were exchanged, compared to its average volume of 65,061. The company has a fifty day moving average price of $9.12 and a 200-day moving average price of $9.25. Nuveen California Municipal Va has a 1-year low of $8.59 and a 1-year high of $9.80.

Nuveen California Municipal Va Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.03 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 15th.

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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