Nuveen California Municipal Value Fund (NYSE:NCA - Get Free Report) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totalling 92,500 shares, a growth of 24.7% from the April 30th total of 74,200 shares. Based on an average daily trading volume, of 86,600 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.3% of the shares of the stock are sold short.
Nuveen California Municipal Value Fund Stock Down 0.1%
Shares of NYSE NCA traded down $0.01 during mid-day trading on Friday, hitting $8.49. 81,630 shares of the company's stock traded hands, compared to its average volume of 83,057. The company's 50-day moving average is $8.45 and its two-hundred day moving average is $8.55. Nuveen California Municipal Value Fund has a 1 year low of $8.22 and a 1 year high of $9.23.
Nuveen California Municipal Value Fund Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.029 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend is Friday, June 13th.
Institutional Trading of Nuveen California Municipal Value Fund
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Olde Wealth Management LLC purchased a new stake in Nuveen California Municipal Value Fund in the 1st quarter worth about $26,000. Elequin Capital LP purchased a new stake in Nuveen California Municipal Value Fund in the 4th quarter worth about $39,000. Comerica Bank purchased a new stake in Nuveen California Municipal Value Fund in the 1st quarter worth about $62,000. Investor s Fiduciary Advisor Network LLC purchased a new stake in Nuveen California Municipal Value Fund in the 4th quarter worth about $85,000. Finally, First Manhattan CO. LLC. purchased a new stake in Nuveen California Municipal Value Fund in the 1st quarter worth about $118,000. 21.46% of the stock is owned by hedge funds and other institutional investors.
Nuveen California Municipal Value Fund Company Profile
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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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