Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Sees Significant Drop in Short Interest

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 43,919 shares, a drop of 45.1% from the June 15th total of 79,997 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 19,056 shares, the short-interest ratio is currently 2.3 days.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

Shares of NYSE NAZ traded down $0.07 during midday trading on Thursday, hitting $12.54. The company’s stock had a trading volume of 26,310 shares, compared to its average volume of 17,915. The stock has a fifty day moving average price of $12.74 and a 200 day moving average price of $12.40. Nuveen Arizona Quality Municipal Income Fund has a one year low of $11.50 and a one year high of $13.42.

Nuveen Arizona Quality Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be paid a $0.062 dividend. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Wednesday, July 15th.

Institutional Investors Weigh In On Nuveen Arizona Quality Municipal Income Fund

Several institutional investors have recently made changes to their positions in the stock. CoreCap Advisors LLC grew its position in shares of Nuveen Arizona Quality Municipal Income Fund by 125.0% in the fourth quarter. CoreCap Advisors LLC now owns 4,500 shares of the investment management company’s stock valued at $53,000 after purchasing an additional 2,500 shares in the last quarter. Diversify Wealth Management LLC bought a new stake in shares of Nuveen Arizona Quality Municipal Income Fund during the 2nd quarter valued at $169,000. NewEdge Advisors LLC purchased a new stake in Nuveen Arizona Quality Municipal Income Fund during the 1st quarter worth about $211,000. Royal Bank of Canada lifted its holdings in Nuveen Arizona Quality Municipal Income Fund by 12.3% during the 4th quarter. Royal Bank of Canada now owns 18,712 shares of the investment management company’s stock worth $222,000 after purchasing an additional 2,056 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its stake in Nuveen Arizona Quality Municipal Income Fund by 26.7% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 19,000 shares of the investment management company’s stock worth $226,000 after purchasing an additional 4,000 shares during the period. Hedge funds and other institutional investors own 15.28% of the company’s stock.

Nuveen Arizona Quality Municipal Income Fund Company Profile

Nuveen Arizona Quality Municipal Income Fund (NYSE: NAZ) is a closed-end management investment company that seeks to provide shareholders with a high level of current income that is exempt from regular U.S. federal income tax. Managed by Nuveen Asset Management, the fund focuses on investment-grade municipal obligations issued by or on behalf of entities located in the state of Arizona. Its portfolio typically includes general obligation bonds, revenue bonds and essential-purpose municipal securities backed by state and local governments and quasi-governmental agencies.

The fund employs fundamental credit analysis to select bonds that meet rigorous quality standards, aiming to preserve principal while generating tax-advantaged income.