Nuveen CA Dividend Advantage Muni Fund (NAC)

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Nuveen CA Dividend Advantage Muni Fund (NAC) is an actively managed closed end fund. This popular fixed income fund utilizes its assets to purchase municipal debts. This fund seeks 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 Fund Profile

    Nuveen CA Dividend Advantage Muni Fund (NAC)
  • Fund Inception Date: 05/26/1999
  • Ticker Symbol: NAC
  • CUSIP: 67066Y105
  • Rank in category (YTD): 37%
  • Category: CA municipal bond
  • Yield: 6.33%
  • Effective Leverage: 35.12%
  • Capital Gains: -
  • Premium/ Discount: -3.74%
  • Base Expense Ratio: 1.30%
  • Net Assets: $ 2.39 billion
  • Annual Turnover Rate: 25.0%
This municipal bond fund has $2.39 billion of assets. It has total expense fee of 1.86% per year. The fund sponsor is Nuveen Fund Advisors. Scott Romans is the portfolio manager since 2003. It also has a high tax free yield of 6.33%.

Nuveen CA Dividend Advantage Muni Fund Performance

In 2015, it has year-to-date return of 2.59%. For the past 1 year, the total return is 17.45%. This fixed income fund has returned 7.03% over the past 3 year, and 10.86% over the past 5 year. Morningstar has ranked it with 4 star rating.

More: Nuveen Municipal Value Fund (NUV)

This Nuveen fund has 397 holdings. The current average coupon is 4.82%. The portfolio turnover rate is 25%. Top 5 sectors are Tax Obligation/Limited, Health Care, Tax Obligation/General, Water and Sewer, and US Guaranteed.

Pros:
  • This Nuveen California Dividend Advantage Municipal Fund has a high yield.
  • Great for California state resident
Cons:
  • Expense fee is higher than typical bond ETF.

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