NKX
Nuveen California AMT-Free Quality Municipal Income Fund12.48
+0.05+0.4%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
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Key Stats
Market Cap
632.35MP/E (TTM)
-Basic EPS (TTM)
-0.78Dividend Yield
0.07%Recent Filings
8-K
By-laws amend eliminates control shares
Nuveen California AMT-Free Quality Municipal Income Fund eliminated its suspended 'control share' provisions from the by-laws on February 28, 2024, via board adoption. Previously inactive since February 24, 2022, these provisions restricted shareholder voting power in control acquisitions. The update streamlines governance without other changes. No further impacts disclosed.
8-K
Board consolidation announced
On October 13, 2023, the Nuveen California AMT-Free Quality Municipal Income Fund announced board consolidation across the Nuveen and TC Funds, effective January 1, 2024, to streamline operations and cut costs for shareholders. The board shrinks to 12 members, appointing four independent trustees from TC Funds—Joseph A. Boateng, Michael A. Forrester, Thomas J. Kenny, and Loren M. Starr—while Jack B. Evans and William C. Hunter retire December 31, 2023. This move promises efficiencies in vendor negotiations and marketing, yet demands smooth integration.
8-K
By-laws suspend control share rule
On February 24, 2022, the Board of Trustees of Nuveen California AMT-Free Quality Municipal Income Fund amended its by-laws to suspend the control share provision, following a U.S. District Court ruling on February 18 that invalidated it under the 1940 Act. The amendment halts the provision's effect while the judgment stands, but reinstates it automatically if the decision is overturned on appeal, which the Board plans to pursue. This shields shareholders from activist hedge fund pressures. Boards act to protect long-term value.
8-K
By-Laws tighten shareholder notices
On October 5, 2020, the Board of Trustees of Nuveen California AMT-Free Quality Municipal Income Fund adopted amended and restated By-Laws, tightening advance notice deadlines for shareholder proposals and nominations ahead of 2021 annual meetings. These changes, part of a broader update across multiple Nuveen closed-end funds, introduce a Control Share By-Law to curb voting power from acquisitions exceeding 10% of shares unless approved by other shareholders. Boards act to shield long-term holders from short-term opportunists. Yet, procedural hurdles now challenge activist moves.
8-K
Nuveen revises AMT policies
Nuveen California AMT-Free Municipal Income Fund tightened its investment policy effective August 5, 2016, now requiring 100% of managed assets in AMT-exempt municipal securities, up from the prior 80% minimum to comply with the Names Rule. This aligns it with other Nuveen AMT-free funds, enhancing tax efficiency for investors. Meanwhile, 27 non-AMT-free Nuveen municipal closed-end funds capped AMT exposure at 20% of assets, down from no limit or 30% previously. Uniformity streamlines Nuveen's municipal offerings, but boards can adjust the 100% policy without notice.
IPO
Sector
Industry
NAC
Nuveen California Quality Munic
11.75+0.00
NAD
Nuveen Quality Municipal Income
12.06+0.00
NCA
Nuveen California Municipal Val
8.81+0.10
NMT
Nuveen Massachusetts Quality Mu
11.58+0.01
NRK
Nuveen New York AMT-Free Qualit
9.89-0.09
NVG
Nuveen AMT-Free Municipal Credi
12.53-0.06
NXC
Nuveen California Select Tax-Fr
13.09-0.02
NXJ
Nuveen New Jersey Qualified Mun
12.63-0.05
NXN
Nuveen New York Select Tax-Free
12.05-0.00
NXP
Nuveen Select Tax Free Income P
14.25-0.02