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

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

Nuveen California Municipal Value Fund Price Performance

Shares of NYSE:NCA remained flat at $8.63 during midday trading on Monday. The company had a trading volume of 39,486 shares, compared to its average volume of 79,574. The company has a fifty day simple moving average of $8.61 and a two-hundred day simple moving average of $8.74. Nuveen California Municipal Value Fund has a fifty-two week low of $8.30 and a fifty-two week high of $9.23.

Nuveen California Municipal Value Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NCA. Raymond James Financial Inc. acquired a new stake in shares of Nuveen California Municipal Value Fund during the 4th quarter valued at $1,107,000. 1607 Capital Partners LLC boosted its position in Nuveen California Municipal Value Fund by 19.7% during the fourth 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 period. Wedbush Securities Inc. grew its holdings in Nuveen California Municipal Value Fund by 17.4% during the fourth quarter. Wedbush Securities Inc. now owns 25,764 shares of the company’s stock valued at $218,000 after purchasing an additional 3,810 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Nuveen California Municipal Value Fund by 14.3% in the fourth quarter. HighTower Advisors LLC now owns 20,000 shares of the company’s stock valued at $169,000 after purchasing an additional 2,500 shares during the period. Finally, DKM Wealth Management Inc. acquired a new stake in shares of Nuveen California Municipal Value Fund in the fourth quarter worth $152,000. 21.46% of the stock is owned by hedge funds and other institutional investors.

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.