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Nuveen California Dividend Advantage Municipal Fun (Nuveen California Dividend Advantage Municipal Fun) Sloan Ratio % : 0.00% (As of Aug. 2016)


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What is Nuveen California Dividend Advantage Municipal Fun Sloan Ratio %?

Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.

Nuveen California Dividend Advantage Municipal Fun's Sloan Ratio for the quarter that ended in Aug. 2016 was 0.00%.

As of Aug. 2016, Nuveen California Dividend Advantage Municipal Fun has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.


Nuveen California Dividend Advantage Municipal Fun Sloan Ratio % Historical Data

The historical data trend for Nuveen California Dividend Advantage Municipal Fun's Sloan Ratio % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Nuveen California Dividend Advantage Municipal Fun Sloan Ratio % Chart

Nuveen California Dividend Advantage Municipal Fun Annual Data
Trend Feb11 Feb12 Feb13 Feb14 Feb15 Feb16
Sloan Ratio %
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Nuveen California Dividend Advantage Municipal Fun Semi-Annual Data
Aug10 Feb11 Aug11 Feb12 Aug12 Feb13 Aug13 Feb14 Aug14 Feb15 Aug15 Feb16 Aug16
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Competitive Comparison of Nuveen California Dividend Advantage Municipal Fun's Sloan Ratio %

For the Asset Management subindustry, Nuveen California Dividend Advantage Municipal Fun's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Nuveen California Dividend Advantage Municipal Fun's Sloan Ratio % Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Nuveen California Dividend Advantage Municipal Fun's Sloan Ratio % distribution charts can be found below:

* The bar in red indicates where Nuveen California Dividend Advantage Municipal Fun's Sloan Ratio % falls into.



Nuveen California Dividend Advantage Municipal Fun Sloan Ratio % Calculation

Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.

Nuveen California Dividend Advantage Municipal Fun's Sloan Ratio for the fiscal year that ended in Feb. 2016 is calculated as

Sloan Ratio=(Net Income (A: Feb. 2016 )-Cash Flow from Operations (A: Feb. 2016 )
-Cash Flow from Investing (A: Feb. 2016 ))/Total Assets (A: Feb. 2016 )
=(24.816-12.266
-0)/526.98
=2.38%

Nuveen California Dividend Advantage Municipal Fun's Sloan Ratio for the quarter that ended in Aug. 2016 is calculated as

Sloan Ratio=(Net Income (TTM)-Cash Flow from Operations (TTM))
-Cash Flow from Investing (TTM))/Total Assets (Q: Aug. 2016 )
=(21.998-3.618
-0)/536.558
=3.43%

For company reported semi-annually, GuruFocus uses latest two semi-annual data as the TTM data. Nuveen California Dividend Advantage Municipal Fun's Net Income for the trailing twelve months (TTM) ended in Aug. 2016 was 21.998 (Feb. 2016 ) + 0 (Aug. 2016 ) = $22.00 Mil.
Nuveen California Dividend Advantage Municipal Fun's Cash Flow from Operations for the trailing twelve months (TTM) ended in Aug. 2016 was 3.618 (Feb. 2016 ) + 0 (Aug. 2016 ) = $3.62 Mil.
Nuveen California Dividend Advantage Municipal Fun's Cash Flow from Investing for the trailing twelve months (TTM) ended in Aug. 2016 was 0 (Feb. 2016 ) + 0 (Aug. 2016 ) = $0.00 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Nuveen California Dividend Advantage Municipal Fun  (AMEX:NZH) Sloan Ratio % Explanation

A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.

According to How to Beat the Market with the Sloan Ratio:

If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.

If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.

If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.

As of Aug. 2016, Nuveen California Dividend Advantage Municipal Fun has a Sloan Ratio of 0.00%, indicating the company is in the safe zone and there is no funny business with accruals.


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Nuveen California Dividend Advantage Municipal Fun (Nuveen California Dividend Advantage Municipal Fun) Business Description

Traded in Other Exchanges
N/A
Address
Nuveen CA Dividend Advantage Muni Fund 3 is a closed-end investment company. The Fund's investment objective is to provide an attractive level of total return, primarily through long-term capital appreciation and secondarily through income and gains.
Executives
Christopher M. Rohrbacher officer: Vice President 333 W. WACKER DRIVE, C/O NUVEEN INVESTMENTS, CHICAGO IL 60606
Albin F Moschner other: Trustee C/O LURIO & ASSOCIATES, P.C., 2005 MARKET STREET, SUITE 3120, PHILADELPHIA PA 19103
Nathaniel T. Jones officer: Vice President and Treasurer C/O NUVEEN 333 W. WACKER DRIVE, STE 3400, CHICAGO IL 60606
Margaret L. Wolff other: Trustee C/O NUVEEN 333 W. WACKER DR., STE 3400, CHICAGO IL 60606
Sherri A Hlavacek officer: Vice President and Treasurer 333 WEST WACKER DRIVE, C/O NUVEEN INVESTMENTS, CHICAGO IL 60606
David J Lamb officer: Vice President 333 W WACKER DRIVE, C/O NUVEEN INVESTMENTS, CHICAGO IL 60606
John Kevin Nelson other: Trustee C/O NUVEEN INVESTMENTS, 333 W. WACKER DR, STE 3400, CHICAGO IL 60606
Schreier Thomas S Jr other: Trustee C/O NORTHWEST AIRLINES, 1689 NONCONNAN BLVD, MEMPHIS TN 38132
Joel T. Slager officer: Vice President C/O NUVEEN INVESTMENTS, 333 W. WACKER DR, STE 3400, CHICAGO IL 60606
Steven M. Hlavin other: Portfolio Manager 333 W. WACKER DRIVE, SUITE 2900, CHICAGO IL 60606
Bank Of America Corp /de/ 10 percent owner BANK OF AMERICA CORPORATE CENTER, 100 N TRYON ST, CHARLOTTE NC 28255
Citigroup Inc 10 percent owner 388 GREENWICH STREET, NEW YORK NY 10013
Bank Of America Na 10 percent owner 100 N. TRYON STREET, CHARLOTTE NC 28255
Douglas J White other: Portfolio Manager 800 NICOLLET MALL, MINNEAPOLIS MN 55402
Virginia Stringer other: Trustee 800 NICOLLET MALL, C/O US BANCORP ASSET MANAGEMENT, MINNEAPOLIS MI 55402

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