Nuveen California Quality Municipal Income Fund
NAC

$11.97

0.23%

Market Cap: $1.73B

About: Nuveen California Quality Municipal Income Fund is a diversified closed-end management investment company. Its objective is to provide current income exempt from regular federal and California income tax and to enhance portfolio value relative to the municipal bond market by investing in municipal securities that are exempt from federal and California state income taxes. It invests a majority of its assets in securities that the Fund's investment adviser believes are underrated or undervalued or that represent municipal market sectors that are undervalued.

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Funds holding %

of 6,710 funds

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Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

34% more repeat investments, than reductions

Existing positions increased: 43 | Existing positions reduced: 32

6% less funds holding

Funds holding: 124 [Q1] → 116 (-8) [Q2]

7% less capital invested

Capital invested by funds: $452M [Q1] → $419M (-$32.5M) [Q2]

13.06% less ownership

Funds ownership: 38.17% [Q1] → 25.11% (-13.06%) [Q2]

33% less funds holding in top 10

Funds holding in top 10: 3 [Q1] → 2 (-1) [Q2]

57% less first-time investments, than exits

New positions opened: 6 | Existing positions closed: 14

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Research analyst outlook

We haven’t received any recent analyst ratings for NAC.

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Financial journalist opinion

NAC: Quick, Sharp Gain Leads Me To A More Cautious Stance (Rating Downgrade)

I previously recommended NAC in June, anticipating a muni sector rebound, which has proven accurate. Going forward, I think gains will be more modest. The fund offers value for investors seeking tax-exempt income if they are in higher tax brackets. NAC has seen its discount to NAV narrow and is utilizing a significant portion of return of capital to pay its distribution. These two attributes justify a less bullish rating now.

NAC: Quick, Sharp Gain Leads Me To A More Cautious Stance (Rating Downgrade)

NAC: Income Boost A Nice Tailwind For This California Muni CEF

I continue to view munis as a reasonable equity hedge and see an opportunity in California munis in particular. NAC has recently seen a sharp income boost and is managed by Nuveen, a popular player in the muni market. The fund's discount and underlying holdings also make for supporting buy factors at this moment.

NAC: Income Boost A Nice Tailwind For This California Muni CEF

Nuveen Closed-End Funds Declare Distributions

NEW YORK--(BUSINESS WIRE)--Several Nuveen closed-end funds have declared distributions. These funds represent investment strategies for investors seeking diversified sources of cash flow to prepare for and sustain their retirement income needs. For further information regarding fund distributions, including earnings, undistributed net investment income, and notices, please visit www.nuveen.com/cef. Additionally, several funds have announced distribution increases of up to 71%. The distribution.

Nuveen Closed-End Funds Declare Distributions

Weekly CEF Commentary | March 3, 2024 | PDX Makes The Change

Markets were flat, but upcoming events like the jobs report, PMIs, and ECB meeting are important.

Weekly CEF Commentary | March 3, 2024 | PDX Makes The Change

Nuveen Closed-End Funds Declare Distributions and Updates to Distribution Policies

NEW YORK--(BUSINESS WIRE)--Nuveen Closed-End Funds today announced that the Board of Trustees of the Funds has approved the regular monthly and quarterly distributions. In addition, the Board of Trustees has approved updated distribution polices described below under “Monthly & Quarterly Distributions” for The Nuveen Preferred & Income Opportunities Fund (NYSE: JPC), Nuveen Preferred and Income Term Fund (NYSE: JPI), Nuveen Variable Rate Preferred & Income Fund (NYSE: NPFD), Nuveen.

Nuveen Closed-End Funds Declare Distributions and Updates to Distribution Policies

NAC: Betting On A Fed Pivot

The Nuveen California Quality Municipal Income Fund is a closed-end fund trading at a discount to net asset values of around 13.88%. The NAC fund focuses on municipal securities in California, which are typically not taxed like regular income in California or by the federal government. The fund has a high leverage ratio and interest rate risk, but activist funds on the shareholder record may help narrow the discount to net asset value.

NAC: Betting On A Fed Pivot

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