From MarketBeat:

Nuveen California Municipal Value Fund experienced a significant 15.4% drop in short interest during January, with short interest totaling 109,500 shares as of January 15th. At an average trading volume of 118,600 shares, this resulted in a days-to-cover ratio of 0.9 days.

Despite a 0.3% trade down, shares of NCA reached $8.83 on Friday, with 51,729 shares exchanged. The Nuveen California Municipal Value Fund’s 50-day moving average price is $8.70, and its 200-day moving average is $8.52. The stock has traded between $7.77 and $9.15 over the past year.

Nuveen California Municipal Value Fund recently announced a monthly dividend of $0.029 per share to be paid on February 1st. With a dividend yield of 3.94%, this equates to an annualized dividend of $0.35 per share for stockholders of record on January 12th.

A number of hedge funds and other institutional investors have recently altered their investments in NCA. Captrust Financial Advisors, Steward Partners Investment Advisory, and several others have acquired stakes in the fund.

Nuveen California Municipal Value Fund, a closed-ended fixed income mutual fund, invests in the fixed income markets of California. It is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC while primarily focusing on municipal securities rated Baa/BBB or better.



Read more: Nuveen California Municipal Value Fund (NYSE:NCA) Short Interest Down 15.4% in January