Nuveen California Quality Municipal Income Fund
90 hedge funds and large institutions have $191M invested in Nuveen California Quality Municipal Income Fund in 2018 Q4 according to their latest regulatory filings, with 18 funds opening new positions, 34 increasing their positions, 25 reducing their positions, and 16 closing their positions.
200% more funds holding in top 10
Funds holding in top 10: 1 → 3 (+2)
36% more repeat investments, than reductions
Existing positions increased: 34 | Existing positions reduced: 25
25% more capital invested
Capital invested by funds: $153M → $191M (+$37.9M)
13% more first-time investments, than exits
New positions opened: 18 | Existing positions closed: 16
2.4% more ownership
Funds ownership: 7.93% → 10.33% (+2.4%)
0% more funds holding
Funds holding: 90 → 90 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BPCM
Beach Point Capital Management
Santa Monica,
California
|
+$16M |
| 2 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$14.7M |
| 3 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$10.5M |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$6.36M |
| 5 |
SCM
Saba Capital Management
New York
|
+$4.19M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
-$13.9M |
| 2 |
CWM
Cornerstone Wealth Management
St. Peters,
Missouri
|
-$4.08M |
| 3 |
JMPWA
JP Morgan Private Wealth Advisors
San Francisco,
California
|
-$3.09M |
| 4 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
-$1.99M |
| 5 |
NMC
Nine Masts Capital
Central,
Hong Kong
|
-$1.85M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
101
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$375K | -28,983 | Closed |
|
|
CAN
102
Cetera Advisor Networks
El Segundo,
California
| – | -$296K | -22,834 | Closed |
|
103
Citadel Advisors
Miami,
Florida
| – | -$186K | -14,384 | Closed |
|
104
Comerica Bank
Dallas,
Texas
| – | -$167K | -13,402 | Closed |
|
|
NL
105
NWAM LLC
Mercer Island,
Washington
| – | -$154K | -11,901 | Closed |
|
|
BEAM
106
Baker Ellis Asset Management
Vancouver,
Washington
| – | -$129K | -10,000 | Closed |
|
107
Bank of Montreal
Toronto,
Ontario, Canada
| – | -$17K | -1,338 | Closed |
|
|
FRA
108
Front Row Advisors
Tiburon,
California
| – | -$8 | -618 | Closed |
|
|
CF
109
Centaurus Financial
Anaheim,
California
| – | -$106 | -8 | Closed |
|
110
Fidelity Investments
Boston,
Massachusetts
| – | +$13 | +1 | +100% |
|
NAC Hedge Fund Activity: Q4 2018 in Review
90 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in Nuveen California Quality Municipal Income Fund (NAC) for Q4 2018, worth a combined $191M — up 25% from $153M a quarter earlier.
Buyers outnumbered sellers: 18 funds opened new NAC positions and 16 closed out — a net gain of 2 holders — while 34 added to existing stakes and 25 trimmed.
The largest buyer was Beach Point Capital Management, opening a new position worth an estimated $16M. The largest seller was UBS Group, cutting an estimated $13.9M.
- 90 institutional investors held Nuveen California Quality Municipal Income Fund (NAC) as of Q4 2018, unchanged from Q3 2018.
- Funds reported $191M of Nuveen California Quality Municipal Income Fund stock for Q4 2018, up 25% quarter-over-quarter.
- 18 funds opened new Nuveen California Quality Municipal Income Fund positions in Q4 2018 and 16 closed out, a net change of +2 holders.
- The largest Nuveen California Quality Municipal Income Fund buyer in Q4 2018 was Beach Point Capital Management, an estimated $16M added.
- The largest Nuveen California Quality Municipal Income Fund seller in Q4 2018 was UBS Group, an estimated $13.9M sold.
Based on aggregated 13F filings for Q4 2018.