Nuveen California Municipal Value Fund (NYSE:NCA) Short Interest Update

Nuveen California Municipal Value Fund (NYSE:NCA) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 40,500 shares, a drop of 18.7% from the September 30th total of 49,800 shares. Based on an average trading volume of 55,200 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On Nuveen California Municipal Value Fund

Several institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its stake in Nuveen California Municipal Value Fund by 11.7% during the first quarter. Advisors Asset Management Inc. now owns 595,091 shares of the company’s stock worth $5,356,000 after purchasing an additional 62,261 shares during the last quarter. First Foundation Advisors lifted its stake in Nuveen California Municipal Value Fund by 13.4% during the second quarter. First Foundation Advisors now owns 236,087 shares of the company’s stock worth $2,047,000 after purchasing an additional 27,910 shares during the last quarter. Sweeney & Michel LLC acquired a new position in Nuveen California Municipal Value Fund during the first quarter worth approximately $815,000. Wolverine Asset Management LLC acquired a new position in Nuveen California Municipal Value Fund during the second quarter worth approximately $529,000. Finally, Sterling Group Wealth Management LLC acquired a new position in Nuveen California Municipal Value Fund during the second quarter worth approximately $468,000. Hedge funds and other institutional investors own 21.46% of the company’s stock.

Nuveen California Municipal Value Fund Stock Performance

Shares of NCA traded down $0.01 during midday trading on Wednesday, hitting $8.89. The company had a trading volume of 63,714 shares, compared to its average volume of 58,527. The company’s 50-day simple moving average is $9.09 and its 200-day simple moving average is $8.86. Nuveen California Municipal Value Fund has a 1 year low of $7.84 and a 1 year high of $9.23.

Nuveen California Municipal Value Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be paid a dividend of $0.029 per share. This represents a $0.35 annualized dividend and a yield of 3.91%. The ex-dividend date is Tuesday, October 15th.

Nuveen California Municipal Value Fund Company Profile

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.