Nuveen California Municipal Value Fund (NYSE:NCA - Get Free Report) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 92,500 shares, an increase of 24.7% from the April 30th total of 74,200 shares. Based on an average daily volume of 86,600 shares, the days-to-cover ratio is presently 1.1 days. Currently, 0.3% of the company's stock are short sold.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. increased its stake in shares of Nuveen California Municipal Value Fund by 9.9% in the first quarter. Advisors Asset Management Inc. now owns 638,123 shares of the company's stock worth $5,520,000 after purchasing an additional 57,664 shares in the last quarter. 1607 Capital Partners LLC raised its stake in Nuveen California Municipal Value Fund by 4.0% during the 1st quarter. 1607 Capital Partners LLC now owns 379,495 shares of the company's stock valued at $3,283,000 after purchasing an additional 14,524 shares during the period. LPL Financial LLC boosted its stake in Nuveen California Municipal Value Fund by 45.6% in the 1st quarter. LPL Financial LLC now owns 294,124 shares of the company's stock worth $2,544,000 after purchasing an additional 92,090 shares during the period. Logan Stone Capital LLC purchased a new stake in Nuveen California Municipal Value Fund in the 4th quarter worth $1,442,000. Finally, Bank of America Corp DE grew its holdings in shares of Nuveen California Municipal Value Fund by 34.8% in the fourth quarter. Bank of America Corp DE now owns 163,651 shares of the company's stock valued at $1,383,000 after purchasing an additional 42,216 shares in the last quarter. Hedge funds and other institutional investors own 21.46% of the company's stock.
Nuveen California Municipal Value Fund Trading Up 0.4%
Shares of NYSE:NCA traded up $0.03 during midday trading on Thursday, reaching $8.47. 68,838 shares of the company's stock traded hands, compared to its average volume of 83,044. The stock has a 50 day moving average of $8.46 and a 200 day moving average of $8.55. Nuveen California Municipal Value Fund has a one year low of $8.22 and a one year high of $9.23.
Nuveen California Municipal Value Fund Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.029 dividend. This represents a $0.35 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Friday, June 13th.
Nuveen California Municipal Value Fund Company Profile
(
Get Free Report)
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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