Is Nuveen California Quality Municipal Income Fund (NAC) Halal?
Shariah Screening — 5 Standards
Based on financial data from August 2025
| Standard | Debt Ratio | Cash Ratio | Receivables | Income | Status |
|---|---|---|---|---|---|
| AAOIFI | Excluded — Asset Management | ✗ NOT HALAL | |||
| DJIM | Excluded — Asset Management | ✗ NOT HALAL | |||
| MSCI | Excluded — Asset Management | ✗ NOT HALAL | |||
| S&P | Excluded — Asset Management | ✗ NOT HALAL | |||
| FTSE | Excluded — Asset Management | ✗ NOT HALAL | |||
Financial Highlights
Profitability
| Gross Margin | 100.0% | |
| Operating Margin | 84.0% | |
| Net Margin | -87.7% |
Cash Flow & Balance Sheet
| Operating Cash Flow | $136M |
| Free Cash Flow | $136M |
| Total Debt | $5M |
| Debt-to-Equity | 75.2 |
| Current Ratio | 1.4 |
| Total Assets | $2.8B |
Price & Trading
| Last Close | $11.49 |
| 50-Day MA | $11.87 |
| 200-Day MA | $11.60 |
| Avg Volume | 542K |
| Beta | 0.6 |
|
52-Week Range
$10.35
| |
About Nuveen California Quality Municipal Income Fund (NAC)
Nuveen California Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of California, United States. The fund invests in undervalued municipal securities and other related investments that are exempt from regular federal and California income taxes. It primarily invests in securities that are rated Baa or BBB or better by Moody's Investors Service, Inc. or Standard & Poor's, and have an average maturity of 20.96 years. The fund employs fundamental analysis with a bottom-up approach to create its portfolio. It benchmarks the performance of its portfolio against the Standard & Poor's (S&P) California Municipal Bond Index and Standard & Poor's (S&P) National Municipal Bond Index. The fund was formerly known as Nuveen California Dividend Advantage Municipal Fund. Nuveen California Quality Municipal Income Fund was formed on December 1, 1998 and is domiciled in the United States.
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Frequently Asked Questions
Is Nuveen California Quality Municipal Income Fund (NAC) halal to invest in?
Based on our screening using AAOIFI Standard 21 (the strictest methodology), Nuveen California Quality Municipal Income Fund is Not Halal. The company fails one or more screening criteria. We screen against all 5 major standards: AAOIFI, DJIM, MSCI, S&P, and FTSE.
What is Nuveen California Quality Municipal Income Fund's debt ratio?
Nuveen California Quality Municipal Income Fund's debt ratio is not available under the AAOIFI standard (which uses market capitalization as the denominator). The AAOIFI threshold is 30%.
What are Nuveen California Quality Municipal Income Fund's key financial metrics?
Nuveen California Quality Municipal Income Fund has a market capitalization of $1.8B, and revenue of -$113M. The company maintains a gross margin of 100.0% and a net margin of -87.7%.
How often is the screening data updated?
Our screening data is updated regularly using the latest available financial statements and market data. Stock prices and market caps are refreshed frequently, while financial statements are updated quarterly when companies report earnings.
Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.