NAC Stock Summary and Trading Ideas (Nuveen Ca Quality Muni Income | NYSE:NAC)

The Fund seeks to provide current income exempt from both regular federal and California state income taxes, and in the case of California AMT-Free Income (NKX) the alternative minimum tax applicable to individuals, by investing primarily in a portfolio of municipal obligations issued by state and local government authorities within the state of California or certain U.S. territories. The fund invests in municipal securities that are exempt from federal and California state income taxes. The fund invests at least 80% of its managed assets in securities rated, at the time of investment, investment grade (Baa/BBB or better by S&P, Moody’s, or Fitch) or, if they are unrated, are judged by the manager to be of comparable quality. The fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality, of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. The fund uses leverage.

Nuveen Ca Quality Muni Income trades on the NYSE stock market under the symbol NAC.

As of May 16, 2024, NAC stock price declined to $11.03 with 399,515 million shares trading.

NAC has a beta of 0.51, meaning it tends to be less sensitive to market movements. NAC has a correlation of 0.28 to the broad based SPY ETF.

NAC has a market cap of $1.60 billion. This is considered a Small Cap stock.

In the last 3 years, NAC stock traded as high as $16.22 and as low as $9.32.

NAC has underperformed the market in the last year with a price return of +7.5% while the SPY ETF gained +30.5%. NAC has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +1.5% and +2.4%, respectively, while the SPY returned +6.2% and +4.7%, respectively.

NAC support price is $11.02 and resistance is $11.14 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NAC stock will trade within this expected range on the day.