Nuveen California Dividend Advantage Municipal Fund (NAC): Inc Citigroup , 10% owner of Nuveen California Dividend Advantage Municipal Fund sold 100 shares on Apr 29, 2016. The Insider selling transaction was reported by the company on May 3, 2016 to the Securities and Exchange Commission. The shares were sold at $100,000.00 per share for a total value of $10,000,000.00 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on May 3, 2016, Inc Citigroup (10% owner) sold 100 shares at $100,000.00 per share price.
Nuveen California Dividend Advantage Municipal Fund is a diversified closed-end management investment company. The Fund’s investment objective and principal investment strategy is to provide current income exempt from both regular federal and California state income taxes and in the case of California AMT-Free Income (NKX) the alternative minimum tax applicable to individuals by investing primarily in a portfolio of municipal obligations issued by state and local government authorities within the state of California or certain United States territories. The Fund invests at least 80% of its managed assets in securities rated at the time of investment investment grade (Baa/BBB or better by S&P Moody’s or Fitch) or if they are unrated is judged by the manager to be of comparable quality. The Fund’s investment adviser is Nuveen Fund Advisors LLC a wholly owned subsidiary of Nuveen Investments Inc.