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

Nuveen Quality Municipal Income Fund (NYSE:NAD) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 497,886 shares, a drop of 56.0% from the March 15th total of 1,132,617 shares. Based on an average daily volume of 1,056,497 shares, the days-to-cover ratio is presently 0.5 days.

Nuveen Quality Municipal Income Fund Trading Up 0.2%

Shares of NYSE:NAD traded up $0.02 during midday trading on Tuesday, hitting $11.92. The company’s stock had a trading volume of 545,455 shares, compared to its average volume of 769,385. The stock’s 50 day simple moving average is $11.93 and its 200 day simple moving average is $11.96. Nuveen Quality Municipal Income Fund has a fifty-two week low of $10.98 and a fifty-two week high of $12.31.

Nuveen Quality Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be given a $0.0705 dividend. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Wednesday, April 15th.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund in the third quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Nuveen Quality Municipal Income Fund in the fourth quarter valued at about $32,000. Align Financial LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund in the fourth quarter valued at about $35,000. Noble Wealth Management PBC lifted its stake in shares of Nuveen Quality Municipal Income Fund by 274.6% in the fourth quarter. Noble Wealth Management PBC now owns 3,233 shares of the financial services provider’s stock valued at $39,000 after buying an additional 2,370 shares during the period. Finally, Advocate Investing Services LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund in the fourth quarter valued at about $41,000.

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.