Nuveen California AMT-Free Quality Municipal Income Fund (NKX)
Nuveen California AMT-Free 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 $12.43, up 0.24% on the session, giving a market capitalisation of $664.3M. On trailing twelve-month figures it carries a trailing P/E of -16.45, a net margin of -87.4%. Its beta of 0.62 implies it has historically moved less than the broad market.
The Nuveen California AMT-Free Quality Municipal Income Fund operates as a closed-end mutual fund, established by Nuveen Investments, Inc., with a specialized focus on fixed-income securities. Jointly managed by Nuveen Asset Management, LLC, and Nuveen Fund Advisors LLC, this U.S.-domiciled fund commenced operations on November 21, 2002. Formerly known as the Nuveen California AMT-Free Municipal Income Fund, its investment strategy primarily targets the fixed-income markets within California. The fund strategically acquires undervalued municipal bonds and other related investments, chosen specifically because their income is exempt from both regular federal and California income taxes. These holdings are mandated to possess a credit rating of at least Baa or BBB and currently maintain an average maturity of 20.17 years. Its portfolio is meticulously constructed using a bottom-up approach, guided by fundamental analysis. To assess its performance, the fund benchmarks itself against both the Standard & Poor's (S&P) California Municipal Bond Index and the S&P National Municipal Bond Index.
Nuveen California AMT-Free Quality Municipal Income Fund is most often compared with the following Financial Services names: