Short Interest in Nuveen Quality Municipal Income Fund (NYSE:NAD) Grows By 22.3%

Nuveen Quality Municipal Income Fund (NYSE:NAD) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,132,617 shares, an increase of 22.3% from the February 26th total of 926,101 shares. Based on an average daily volume of 804,653 shares, the days-to-cover ratio is currently 1.4 days.

Insider Buying and Selling at Nuveen Quality Municipal Income Fund

In related news, major shareholder Of America Corp /De/ Bank acquired 6,374 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was acquired at an average cost of $12.01 per share, for a total transaction of $76,551.74. Following the completion of the acquisition, the insider directly owned 6,374 shares of the company’s stock, valued at approximately $76,551.74. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Trading of Nuveen Quality Municipal Income Fund

Several institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its position in Nuveen Quality Municipal Income Fund by 0.7% during the 4th quarter. Morgan Stanley now owns 7,179,292 shares of the financial services provider’s stock valued at $86,295,000 after purchasing an additional 46,501 shares during the period. Bank of America Corp DE lifted its position in shares of Nuveen Quality Municipal Income Fund by 3.5% in the 3rd quarter. Bank of America Corp DE now owns 2,752,323 shares of the financial services provider’s stock worth $32,175,000 after purchasing an additional 92,389 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Nuveen Quality Municipal Income Fund by 45.9% in the 4th quarter. Guggenheim Capital LLC now owns 2,572,898 shares of the financial services provider’s stock valued at $30,926,000 after purchasing an additional 809,838 shares during the last quarter. Raymond James Financial Inc. boosted its stake in shares of Nuveen Quality Municipal Income Fund by 22.7% in the 3rd quarter. Raymond James Financial Inc. now owns 2,436,790 shares of the financial services provider’s stock valued at $28,486,000 after purchasing an additional 450,413 shares during the last quarter. Finally, McGowan Group Asset Management Inc. increased its position in shares of Nuveen Quality Municipal Income Fund by 4.5% during the fourth quarter. McGowan Group Asset Management Inc. now owns 1,362,021 shares of the financial services provider’s stock worth $16,371,000 after buying an additional 58,681 shares during the period.

Nuveen Quality Municipal Income Fund Stock Down 0.6%

NAD traded down $0.06 during midday trading on Monday, hitting $11.23. 1,121,105 shares of the company were exchanged, compared to its average volume of 763,085. The firm’s 50 day moving average price is $12.00 and its 200-day moving average price is $11.96. Nuveen Quality Municipal Income Fund has a 1-year low of $10.40 and a 1-year high of $12.31.

Nuveen Quality Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a dividend of $0.0705 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date is Friday, March 13th.

Nuveen Quality Municipal Income Fund Company Profile

Nuveen Quality Municipal Income Fund (NYSE:NAD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds, issued by state and local governments across the United States. By focusing on high-quality issuers, the fund aims to balance income generation with prudent risk management.

Launched in July 2022, NAD is managed by Nuveen Asset Management, a subsidiary of TIAA with decades of experience in municipal bond investing.