Nuveen California Quality Municipal Income Fund
120 hedge funds and large institutions have $328M invested in Nuveen California Quality Municipal Income Fund in 2023 Q3 according to their latest regulatory filings, with 16 funds opening new positions, 29 increasing their positions, 44 reducing their positions, and 7 closing their positions.
129% more first-time investments, than exits
New positions opened: 16 | Existing positions closed: 7
100% more funds holding in top 10
Funds holding in top 10: 2 → 4 (+2)
8% more funds holding
Funds holding: 111 → 120 (+9)
1.72% more ownership
Funds ownership: 21.77% → 23.49% (+1.7%)
5% less capital invested
Capital invested by funds: $344M → $328M (-$16.1M)
34% less repeat investments, than reductions
Existing positions increased: 29 | Existing positions reduced: 44
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$27.6M |
| 2 |
BPCM
Beach Point Capital Management
Santa Monica,
California
|
+$5.43M |
| 3 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$4.63M |
| 4 |
AA
AQR Arbitrage
Greenwich,
Connecticut
|
+$3.45M |
| 5 |
RCM
Robinson Capital Management
Grosse Pointe Farms,
Michigan
|
+$1.66M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$6.03M |
| 2 |
UBS Group
Zurich,
Switzerland
|
-$2.46M |
| 3 |
PCM
Penserra Capital Management
Orinda,
California
|
-$2.26M |
| 4 |
Morgan Stanley
New York
|
-$2.13M |
| 5 |
SCA
Snowden Capital Advisors
New York
|
-$1.65M |
NAC Hedge Fund Activity: Q3 2023 in Review
120 of the 6,301 institutional investors tracked by Wall St. Rank reported a position in Nuveen California Quality Municipal Income Fund (NAC) for Q3 2023, worth a combined $328M — down 4.7% from $344M a quarter earlier.
Buyers outnumbered sellers: 16 funds opened new NAC positions and 7 closed out — a net gain of 9 holders — while 29 added to existing stakes and 44 trimmed.
The largest buyer was Saba Capital Management, adding an estimated $27.6M. The largest seller was Rivernorth Capital Management, cutting an estimated $6.03M.
- 120 institutional investors held Nuveen California Quality Municipal Income Fund (NAC) as of Q3 2023, up from 111 in Q2 2023.
- Funds reported $328M of Nuveen California Quality Municipal Income Fund stock for Q3 2023, down 4.7% quarter-over-quarter.
- 16 funds opened new Nuveen California Quality Municipal Income Fund positions in Q3 2023 and 7 closed out, a net change of +9 holders.
- The largest Nuveen California Quality Municipal Income Fund buyer in Q3 2023 was Saba Capital Management, an estimated $27.6M added.
- The largest Nuveen California Quality Municipal Income Fund seller in Q3 2023 was Rivernorth Capital Management, an estimated $6.03M sold.
Based on aggregated 13F filings for Q3 2023.