NAC - NAC: Income Boost A Nice Tailwind For This California Muni CEF
2024-06-09 10:10:30 ET
Summary
- I continue to view munis as a reasonable equity hedge and see an opportunity in California munis in particular.
- NAC has recently seen a sharp income boost and is managed by Nuveen, a popular player in the muni market.
- The fund's discount and underlying holdings also make for supporting buy factors at this moment.
Main Thesis/Background
The purpose of this article is to evaluate the Nuveen California Quality Municipal Income Fund ( NAC ) as an investment option at its current market price. This is a closed-end fund whose objective is to "seek current income exempt from both regular federal income taxes and California personal income tax; its secondary investment objective is the enhancement of portfolio value"....
NAC: Income Boost A Nice Tailwind For This California Muni CEF