Morgan Stanley Smith Barney LLC recently announced the acquisition of new stake in Nuveen California AMT-Free Quality Municipal Income Fund (NYSE:NKX). The institutional investor has increased its shareholding in the Financial company by 17.04% to 1.49 million shares with purchase of 0.22 million shares. This fresh investment now brings its stake to 3.14% valued currently at $18.34 million. In addition, UBS Financial Services, Inc. raised its holdings by 21004.0 to 0.75 million shares. And Wells Fargo Clearing Services LLC has lifted its position by 6.97% or 45211.0 shares – to 0.69 million shares.
With over 0.14 million Nuveen California AMT-Free Quality Municipal Income Fund (NKX) shares trading Tuesday and a closing price of $12.48 on the day, the dollar volume was approximately $1.71 million. The shares have shown a negative half year performance of -5.67% and its price on 01/24/23 gained nearly 0.56%. Currently, there are 47.52M common shares owned by the public and among those 47.52M shares have been available to trade.
The top 3 mutual fund holders in Nuveen California AMT-Free Quality Municipal Income Fund are AQR Diversified Arbitrage Fund, Guggenheim Multi Hedge Strategies, and Rydex Variable Trust – Multi Hedg. AQR Diversified Arbitrage Fund owns 23692.0 shares of the company’s stock, all valued at over $0.29 million. The company bought an additional 13046.0 shares recently to bring their total holdings to about 0.05% of the shares outstanding. Guggenheim Multi Hedge Strategies sold 84.0 shares to see its total holdings shrink to 2185.0 shares valued at over $26876.0 and representing 0.01% of the shares outstanding. Rydex Variable Trust – Multi Hedg sold 48.0 shares to bring its total holdings to over 880.0 shares at a value of $10824.0. Rydex Variable Trust – Multi Hedg now owns shares totaling to 0.00% of the shares outstanding.
However, the script later moved the day high at 12.51, up 0.56%. The company’s stock has a 5-day price change of 1.88% and 13.87% over the past three months. NKX shares are trading 1.46% year to date (YTD), with the 12-month market performance down to -15.96% lower. It has a 12-month low price of $10.79 and touched a high of $14.86 over the same period. NKX has an average intraday trading volume of 158.87K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.28%, 3.09%, and -1.34% respectively.
Institutional ownership of Nuveen California AMT-Free Quality Municipal Income Fund (NYSE: NKX) shares accounts for 13.67% of the company’s 47.52M shares outstanding. Mutual fund holders own 0.06%, while other institutional holders and individual stakeholders account for 13.51% and 0.01% respectively.
It has a market capitalization of $593.05M. The earnings-per-share (ttm) stands at -$0.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.16% over the week and 1.75% over the month.