Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Short Interest Drops 90.4%

Nuveen Quality Municipal Income Fund (NYSE:NAD) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totaling 53,969 shares, a drop of 90.4% from the September 15th total of 562,042 shares. Based on an average daily trading volume, of 2,520,781 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of NAD. N.E.W. Advisory Services LLC acquired a new stake in shares of Nuveen Quality Municipal Income Fund in the 2nd quarter valued at about $31,000. Allied Private Wealth LLC acquired a new position in Nuveen Quality Municipal Income Fund in the second quarter worth about $75,000. Silver Oak Securities Incorporated grew its stake in Nuveen Quality Municipal Income Fund by 12.3% in the first quarter. Silver Oak Securities Incorporated now owns 9,881 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 1,079 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in Nuveen Quality Municipal Income Fund in the first quarter valued at about $115,000. Finally, Gateway Wealth Partners LLC bought a new stake in Nuveen Quality Municipal Income Fund in the first quarter valued at about $115,000.

Nuveen Quality Municipal Income Fund Stock Up 1.0%

Shares of NYSE:NAD traded up $0.10 during midday trading on Friday, reaching $10.19. The company had a trading volume of 1,481,144 shares, compared to its average volume of 864,386. The stock’s fifty day moving average price is $11.09 and its 200-day moving average price is $11.54. Nuveen Quality Municipal Income Fund has a one year low of $9.66 and a one year high of $12.31.

Nuveen Quality Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.0705 per share. This represents a $0.85 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date is Thursday, October 15th.

About Nuveen Quality Municipal Income Fund

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.