Short Interest in Nuveen Quality Municipal Income Fund (NYSE:NAD) Rises By 192.8%

Nuveen Quality Municipal Income Fund (NYSE:NAD) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 615,438 shares, a growth of 192.8% from the April 30th total of 210,173 shares. Based on an average daily trading volume, of 707,070 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Trading of Nuveen Quality Municipal Income Fund

Several hedge funds have recently modified their holdings of NAD. Smartleaf Asset Management LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund during the third quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Nuveen Quality Municipal Income Fund during the fourth quarter valued at approximately $32,000. Align Financial LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund during the fourth quarter valued at approximately $35,000. Noble Wealth Management PBC grew its stake in shares of Nuveen Quality Municipal Income Fund by 274.6% during the fourth quarter. Noble Wealth Management PBC now owns 3,233 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 2,370 shares during the last quarter. Finally, Advocate Investing Services LLC bought a new position in Nuveen Quality Municipal Income Fund in the fourth quarter valued at approximately $41,000.

Nuveen Quality Municipal Income Fund Price Performance

Shares of NAD traded up $0.07 during mid-day trading on Friday, hitting $11.91. 695,418 shares of the company traded hands, compared to its average volume of 727,928. Nuveen Quality Municipal Income Fund has a one year low of $11.04 and a one year high of $12.31. The business has a 50-day moving average of $11.70 and a 200 day moving average of $11.94.

Nuveen Quality Municipal Income Fund Announces Dividend

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

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.