Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Stock Short Interest Rises 94.0%

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) saw a large increase in short interest in October. As of October 15th, there was short interest totaling 24,986 shares, an increase of 94.0% from the September 30th total of 12,881 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 49,443 shares, the short-interest ratio is presently 0.5 days.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

NAZ stock traded up $0.01 during trading on Monday, hitting $10.66. 23,029 shares of the stock traded hands, compared to its average volume of 28,564. Nuveen Arizona Quality Municipal Income Fund has a 1 year low of $10.18 and a 1 year high of $13.42. The firm’s 50 day moving average is $11.24 and its two-hundred day moving average is $12.13.

Nuveen Arizona Quality Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be paid a $0.0620 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 7.0%.

Institutional Investors Weigh In On Nuveen Arizona Quality Municipal Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. bought a new position in shares of Nuveen Arizona Quality Municipal Income Fund in the 3rd quarter worth approximately $117,000. Kingswood Wealth Advisors LLC grew its position in Nuveen Arizona Quality Municipal Income Fund by 10.2% during the third quarter. Kingswood Wealth Advisors LLC now owns 40,000 shares of the investment management company’s stock valued at $423,000 after buying an additional 3,700 shares during the period. IFP Advisors Inc increased its holdings in Nuveen Arizona Quality Municipal Income Fund by 496,400.0% during the third quarter. IFP Advisors Inc now owns 4,965 shares of the investment management company’s stock valued at $52,000 after buying an additional 4,964 shares during the last quarter. Bank of America Corp DE purchased a new stake in Nuveen Arizona Quality Municipal Income Fund during the second quarter valued at approximately $635,000. Finally, Western Wealth Management LLC bought a new position in Nuveen Arizona Quality Municipal Income Fund in the 2nd quarter worth $662,000. 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 (NYSE: NAZ) is a closed-end management investment company designed to provide current income that is exempt from regular federal income tax and Arizona state income tax. The fund invests primarily in municipal securities issued by or on behalf of Arizona state and local governments, as well as related public authorities.

Its portfolio may include tax-exempt bonds used to finance public infrastructure and essential services, such as schools, transportation systems, utilities, health care facilities and other governmental projects.