Nuveen Quality Municipal Income Fund (NYSE:NAD) Sees Large Increase in Short Interest

Nuveen Quality Municipal Income Fund (NYSE:NAD) was the target of a large increase in short interest in 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 trading volume, of 804,653 shares, the days-to-cover ratio is presently 1.4 days.

Nuveen Quality Municipal Income Fund Price Performance

NYSE NAD traded up $0.24 during trading on Wednesday, reaching $11.74. The company’s stock had a trading volume of 625,410 shares, compared to its average volume of 766,065. Nuveen Quality Municipal Income Fund has a 1-year low of $10.40 and a 1-year high of $12.31. The business has a 50-day moving average price of $11.99 and a 200-day moving average price of $11.96.

Nuveen Quality Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.0705 dividend. This represents a c) annualized dividend and a dividend yield of 7.2%. The ex-dividend date of this dividend is Friday, March 13th.

Insider Buying and Selling

In other news, major shareholder Of America Corp /De/ Bank acquired 6,374 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were purchased at an average price of $12.01 per share, for a total transaction of $76,551.74. Following the completion of the acquisition, the insider owned 6,374 shares of the company’s stock, valued at approximately $76,551.74. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

Large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC acquired a new stake in shares of Nuveen Quality Municipal Income Fund in the third quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Nuveen Quality Municipal Income Fund during the 4th quarter valued at about $32,000. Align Financial LLC bought a new position in shares of Nuveen Quality Municipal Income Fund in the 4th quarter valued at approximately $35,000. Noble Wealth Management PBC raised its stake in shares of Nuveen Quality Municipal Income Fund by 274.6% in the 4th quarter. Noble Wealth Management PBC now owns 3,233 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 2,370 shares in the last quarter. Finally, Advocate Investing Services LLC acquired a new stake in Nuveen Quality Municipal Income Fund in the 4th quarter worth approximately $41,000.

About Nuveen Quality Municipal Income Fund

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.