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In a challenging economic climate, Nuveen California Dividend Advantage Municipal Fund (NAC) stock has reached a 52-week low, dipping to $10.59. According to InvestingPro data, the fund's RSI indicates oversold conditions, while maintaining an attractive 8.12% dividend yield and a 27-year track record of consistent dividend payments. This price movement reflects broader market trends and investor sentiment within the municipal bond sector. The fund demonstrates stability with a low beta of 0.48 and maintains strong financial health with a current ratio of 2.25. Over the past year, NAC has experienced a decline of 2.48%, underscoring the pressures faced by fixed-income investments in the current interest rate environment. Investors are closely monitoring the fund's performance as it navigates through the evolving financial landscape. (Unlock additional insights and 6 more exclusive ProTips with InvestingPro)
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