Nuveen California Municipal Value Fund (NYSE:NCA) Short Interest Up 59.5% in March

Nuveen California Municipal Value Fund (NYSE:NCA) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 52,800 shares, an increase of 59.5% from the February 28th total of 33,100 shares. Based on an average daily trading volume, of 108,400 shares, the days-to-cover ratio is currently 0.5 days.

Nuveen California Municipal Value Fund Stock Down 0.1 %

NYSE NCA traded down $0.01 on Friday, reaching $8.65. The company had a trading volume of 28,761 shares, compared to its average volume of 78,934. Nuveen California Municipal Value Fund has a 1 year low of $8.30 and a 1 year high of $9.23. The firm has a 50-day moving average of $8.61 and a 200-day moving average of $8.74.

Nuveen California Municipal Value Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.029 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 4.03%.

Institutional Investors Weigh In On Nuveen California Municipal Value Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Logan Stone Capital LLC purchased a new position in Nuveen California Municipal Value Fund in the 4th quarter valued at about $1,442,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Nuveen California Municipal Value Fund in the fourth quarter worth about $1,137,000. Raymond James Financial Inc. purchased a new position in Nuveen California Municipal Value Fund in the fourth quarter valued at about $1,107,000. Atria Wealth Solutions Inc. acquired a new stake in Nuveen California Municipal Value Fund during the 4th quarter valued at approximately $533,000. Finally, 1607 Capital Partners LLC increased its holdings in Nuveen California Municipal Value Fund by 19.7% during the 4th quarter. 1607 Capital Partners LLC now owns 364,971 shares of the company’s stock worth $3,084,000 after purchasing an additional 60,185 shares during the last quarter. Hedge funds and other institutional investors own 21.46% of the company’s stock.

About Nuveen California Municipal Value Fund

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.