NKX Stock Summary and Trading Ideas (Nuveen Ca Amount-Tax Quality Muni Income | NYSE:NKX)

The fund's investment objectives are to provide current income exempt from regular federal income tax and the alternative minimum tax applicable to individuals and California income tax and to enhance portfolio value. The fund invests in municipal securities that are exempt from federal and California state income taxes, including the alternative minimum tax (AMT). 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 Amount-Tax Quality Muni Income trades on the NYSE stock market under the symbol NKX.

As of April 18, 2024, NKX stock price climbed to $11.99 with 139,019 million shares trading.

NKX has a beta of 0.76, meaning it tends to be less sensitive to market movements. NKX has a correlation of 0.31 to the broad based SPY ETF.

NKX has a market cap of $569.77 million. This is considered a Small Cap stock.

In the last 3 years, NKX stock traded as high as $16.77 and as low as $9.78.

NKX stock has underperformed the market in the last year with a return of +9.1%, while SPY returned +22.3%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in NKX shares. However, NKX has outperformed the market in the last 3 month and 2 week periods, returning +6.9% and -0.5%, while SPY returned +6.1% and -3.8%, respectively. This indicates NKX has been having a stronger performance recently.

NKX support price is $11.81 and resistance is $11.99 (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 NKX stock will trade within this expected range on the day.