Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Short Interest Rises 524.1%

Nuveen Quality Municipal Income Fund (NYSE:NAD) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 336,811 shares, a growth of 524.1% from the September 30th total of 53,969 shares. Based on an average daily trading volume, of 2,016,736 shares, the short-interest ratio is presently 0.2 days.

Insider Buying and Selling at Nuveen Quality Municipal Income Fund

In related news, insider Young L. Robert sold 32,727 shares of Nuveen Quality Municipal Income Fund stock in a transaction on Friday, October 16th. The stock was sold at an average price of $10.32, for a total transaction of $337,742.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Terence J. Toth purchased 7,090 shares of the stock in a transaction on Wednesday, October 14th. The stock was acquired at an average cost of $10.13 per share, for a total transaction of $71,821.70. Following the acquisition, the insider owned 11,221 shares in the company, valued at approximately $113,668.73. This represents a 171.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new stake in Nuveen Quality Municipal Income Fund during the second quarter worth about $28,087,000. Hennion & Walsh Asset Management Inc. boosted its stake in Nuveen Quality Municipal Income Fund by 48.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 1,373,096 shares of the financial services provider’s stock worth $16,642,000 after buying an additional 445,351 shares in the last quarter. Van ECK Associates Corp grew its position in Nuveen Quality Municipal Income Fund by 16.1% during the second quarter. Van ECK Associates Corp now owns 1,288,803 shares of the financial services provider’s stock valued at $15,620,000 after acquiring an additional 178,327 shares during the last quarter. Royal Bank of Canada grew its position in Nuveen Quality Municipal Income Fund by 7.0% during the first quarter. Royal Bank of Canada now owns 962,548 shares of the financial services provider’s stock valued at $11,070,000 after acquiring an additional 62,641 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC raised its stake in shares of Nuveen Quality Municipal Income Fund by 7.6% during the first quarter. Eagle Bluffs Wealth Management LLC now owns 741,692 shares of the financial services provider’s stock worth $8,582,000 after acquiring an additional 52,345 shares in the last quarter.

Nuveen Quality Municipal Income Fund Stock Up 0.8%

Shares of NAD stock traded up $0.09 during trading on Thursday, hitting $10.62. The company had a trading volume of 483,249 shares, compared to its average volume of 900,390. The stock’s 50-day moving average is $10.73 and its two-hundred day moving average is $11.60. Nuveen Quality Municipal Income Fund has a 52 week low of $9.66 and a 52 week high of $12.31.

Nuveen Quality Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be given a dividend of $0.0705 per share. The ex-dividend date is Thursday, October 15th. This represents a $0.85 annualized dividend and a dividend yield of 8.0%.

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 current income exempt from regular federal income tax. The fund invests primarily in a diversified portfolio of municipal obligations issued by U.S. states, cities, counties, and other public entities.

The fund’s holdings may include general obligation bonds, revenue bonds, and other tax-exempt municipal securities used to finance public infrastructure and essential services.