Nuveen California Municipal Value Fund (NYSE:NCA) Sees Significant Growth in Short Interest

Nuveen California Municipal Value Fund (NYSE:NCA) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 31,300 shares, an increase of 88.6% from the January 15th total of 16,600 shares. Based on an average daily trading volume, of 124,700 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Nuveen California Municipal Value Fund

Several hedge funds and other institutional investors have recently bought and sold shares of NCA. Sanctuary Advisors LLC acquired a new position in Nuveen California Municipal Value Fund in the 2nd quarter worth approximately $119,000. Farther Finance Advisors LLC acquired a new stake in shares of Nuveen California Municipal Value Fund during the 3rd quarter worth approximately $117,000. James Investment Research Inc. acquired a new stake in shares of Nuveen California Municipal Value Fund during the 3rd quarter worth approximately $93,000. Advisors Asset Management Inc. grew its stake in shares of Nuveen California Municipal Value Fund by 4.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 585,102 shares of the company’s stock worth $5,336,000 after purchasing an additional 22,456 shares during the period. Finally, Nwam LLC acquired a new stake in shares of Nuveen California Municipal Value Fund during the 3rd quarter worth approximately $191,000. Institutional investors and hedge funds own 21.46% of the company’s stock.

Nuveen California Municipal Value Fund Price Performance

NYSE:NCA traded up $0.03 during midday trading on Friday, hitting $8.59. The company’s stock had a trading volume of 89,884 shares, compared to its average volume of 82,344. Nuveen California Municipal Value Fund has a fifty-two week low of $8.30 and a fifty-two week high of $9.23. The firm’s 50 day moving average is $8.54 and its 200-day moving average is $8.83.

Nuveen California Municipal Value Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be issued a $0.029 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.35 annualized dividend and a yield of 4.05%.

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.