Nuveen California AMT-Free Quality Municipal Income Fund (NKX)

• Market cap: $585M
• 1 day: -2.99%
• 5 days: -4.94%
• 1 month: -4.65%
• 3 months: -11.12%
• 6 months: 1.48%
• Year to date: 6.76%
• 1 year: 6.86%
• 5 years: -18.48%
• 10 years: -16.32%

About: Nuveen California AMT-Free Quality Municipal Income Fund is a diversified closed-end management investment company. Its investment objectives are 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 tax-exempt municipal bonds that the Fund's investment adviser believes are underrated or undervalued or that represent municipal market sectors that are undervalued.

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

150% more first-time investments, than exits

New positions opened: 5 | Existing positions closed: 2

28% more repeat investments, than reductions

Existing positions increased: 23 | Existing positions reduced: 18

5% more funds holding

Funds holding: 64 [Q2] → 67 (+3) [Q3]

3.66% less ownership

Funds ownership: 19.7% [Q2] → 16.05% (-3.66%) [Q3]

12% less capital invested

Capital invested by funds: $117M [Q2] → $103M (-$13.7M) [Q3]