Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Short Interest Up 955.6% in March

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 9,500 shares, a growth of 955.6% from the February 29th total of 900 shares. Based on an average trading volume of 20,300 shares, the short-interest ratio is currently 0.5 days.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

Shares of Nuveen Arizona Quality Municipal Income Fund stock remained flat at $10.95 on Thursday. 553 shares of the stock traded hands, compared to its average volume of 15,819. Nuveen Arizona Quality Municipal Income Fund has a 1 year low of $9.22 and a 1 year high of $11.37. The firm has a 50 day moving average of $10.88 and a 200-day moving average of $10.40.

Nuveen Arizona Quality Municipal Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a $0.0425 dividend. This is a boost from Nuveen Arizona Quality Municipal Income Fund’s previous monthly dividend of $0.04. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.51 annualized dividend and a dividend yield of 4.66%.

Institutional Trading of Nuveen Arizona Quality Municipal Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAZ. Royal Bank of Canada lifted its stake in Nuveen Arizona Quality Municipal Income Fund by 25.8% in the first quarter. Royal Bank of Canada now owns 26,106 shares of the investment management company’s stock worth $355,000 after acquiring an additional 5,353 shares during the period. Bank of America Corp DE lifted its position in Nuveen Arizona Quality Municipal Income Fund by 5.4% during the first quarter. Bank of America Corp DE now owns 26,927 shares of the investment management company’s stock valued at $366,000 after buying an additional 1,383 shares during the period. UBS Group AG lifted its position in Nuveen Arizona Quality Municipal Income Fund by 14.0% during the second quarter. UBS Group AG now owns 45,096 shares of the investment management company’s stock valued at $579,000 after buying an additional 5,542 shares during the period. LPL Financial LLC lifted its position in Nuveen Arizona Quality Municipal Income Fund by 2.7% during the second quarter. LPL Financial LLC now owns 155,966 shares of the investment management company’s stock valued at $2,003,000 after buying an additional 4,063 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in Nuveen Arizona Quality Municipal Income Fund during the second quarter valued at $154,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

About Nuveen Arizona Quality Municipal Income Fund

Nuveen Arizona Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is managed by Nuveen Asset Management, LLC. It invests in the fixed income markets of Arizona. The fund invests in municipal securities and other related investments the income, exempt from regular federal and Arizona income taxes that are rated Baa or BBB or better and having an average maturity of 18.66 years.