Nuveen California Quality Municipal Income Fund (NAC)
Nuveen California Quality Municipal Income Fund operates in the Asset Management - Income industry of the Financial Services sector, headquartered in Chicago, IL, US. The stock last traded at $10.53, down 0.38% on the session, giving a market capitalisation of $1.64B. On trailing twelve-month figures it carries a trailing P/E of -13.00, a net margin of -95.6%. Its beta of 0.56 implies it has historically moved less than the broad market.
The Nuveen California Quality Municipal Income Fund, identified by the symbol NAC, functions as a closed-end mutual fund primarily focused on fixed-income investments. This U.S.-domiciled fund was established on December 1, 1998, under the sponsorship of Nuveen Investments, Inc. Its investment activities are jointly managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The fund's core strategy involves investing in California's fixed-income markets, specifically targeting undervalued municipal securities and related assets that offer a valuable exemption from both regular federal and California state income taxes. A key aspect of its portfolio construction involves favoring debt instruments rated at least Baa by Moody's Investors Service, Inc., or BBB by Standard & Poor's. The portfolio typically maintains an average maturity period of approximately 20.96 years. Investment decisions are driven by a thorough bottom-up fundamental analysis approach. For performance evaluation, the fund measures itself against two benchmarks: the Standard & Poor's (S&P) California Municipal Bond Index and the Standard & Poor's (S&P) National Municipal Bond Index. Prior to its current name, the fund was recognized as the Nuveen California Dividend Advantage Municipal Fund.
Nuveen California Quality Municipal Income Fund is most often compared with the following Financial Services names: