Profile
Sector:
Financial ServicesIndustry:
Asset ManagementCountry:
United StatesIPO:
26 May 1999Website:
http://www.nuveen.comNext earnings report:
N/ALast dividends:
15 October 2024Next dividends:
N/APrice
after hours | Fri, 01 Nov 2024 21:55:01 GMTAnalysts recommendations
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NAC Latest News
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.
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.
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.
What type of business is Nuveen California Quality Municipal Income Fund?
Nuveen California Quality Municipal Income 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, United States. The fund invests in undervalued municipal securities and other related investments that are exempt from regular federal and California income taxes. It primarily invests in securities that are rated Baa or BBB or better by Moody's Investors Service, Inc. or Standard & Poor's, and have an average maturity of 20.96 years. The fund employs fundamental analysis with a bottom-up approach to create its portfolio. It benchmarks the performance of its portfolio against the Standard & Poor's (S&P) California Municipal Bond Index and Standard & Poor's (S&P) National Municipal Bond Index. The fund was formerly known as Nuveen California Dividend Advantage Municipal Fund. Nuveen California Quality Municipal Income Fund was formed on December 1, 1998 and is domiciled in the United States.
What sector is Nuveen California Quality Municipal Income Fund in?
Nuveen California Quality Municipal Income Fund is in the Financial Services sector
What industry is Nuveen California Quality Municipal Income Fund in?
Nuveen California Quality Municipal Income Fund is in the Asset Management industry
What country is Nuveen California Quality Municipal Income Fund from?
Nuveen California Quality Municipal Income Fund is headquartered in United States
When did Nuveen California Quality Municipal Income Fund go public?
Nuveen California Quality Municipal Income Fund initial public offering (IPO) was on 26 May 1999
What is Nuveen California Quality Municipal Income Fund website?
https://www.nuveen.com/CEF/Product/Overview.aspx?FundCode=NAC&refsrc=vu_nuveen.com/nac
Is Nuveen California Quality Municipal Income Fund in the S&P 500?
No, Nuveen California Quality Municipal Income Fund is not included in the S&P 500 index
Is Nuveen California Quality Municipal Income Fund in the NASDAQ 100?
No, Nuveen California Quality Municipal Income Fund is not included in the NASDAQ 100 index
Is Nuveen California Quality Municipal Income Fund in the Dow Jones?
No, Nuveen California Quality Municipal Income Fund is not included in the Dow Jones index
When was Nuveen California Quality Municipal Income Fund the previous earnings report?
No data
When does Nuveen California Quality Municipal Income Fund earnings report?
Next earnings report date is not announced yet