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

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. 1607 Capital Partners LLC lifted its position in shares of 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 valued at $3,084,000 after buying an additional 60,185 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Nuveen California Municipal Value Fund during the 4th quarter valued at approximately $1,107,000. Wedbush Securities Inc. lifted its position in shares of Nuveen California Municipal Value Fund by 17.4% during the 4th quarter. Wedbush Securities Inc. now owns 25,764 shares of the company’s stock valued at $218,000 after buying an additional 3,810 shares in the last quarter. DKM Wealth Management Inc. purchased a new position in shares of Nuveen California Municipal Value Fund during the 4th quarter valued at approximately $152,000. Finally, HighTower Advisors LLC lifted its position in shares of Nuveen California Municipal Value Fund by 14.3% during the 4th quarter. HighTower Advisors LLC now owns 20,000 shares of the company’s stock valued at $169,000 after buying an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 21.46% of the company’s stock.

Nuveen California Municipal Value Fund Price Performance

Shares of NYSE NCA traded up $0.03 during midday trading on Friday, reaching $8.59. 89,884 shares of the stock were exchanged, compared to its average volume of 82,344. Nuveen California Municipal Value Fund has a twelve month low of $8.30 and a twelve month high of $9.23. The firm has a 50-day simple moving average of $8.54 and a two-hundred day simple moving average of $8.83.

Nuveen California Municipal Value Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of $0.029 per share. The ex-dividend date is Friday, February 14th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 4.05%.

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.