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

Nuveen Quality Municipal Income Fund (NYSE:NAD) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 327,662 shares, a drop of 46.8% from the May 14th total of 615,438 shares. Based on an average daily trading volume, of 686,358 shares, the days-to-cover ratio is currently 0.5 days.

Nuveen Quality Municipal Income Fund Stock Performance

Shares of Nuveen Quality Municipal Income Fund stock traded down $0.02 on Monday, hitting $11.94. 582,533 shares of the company traded hands, compared to its average volume of 723,187. The firm’s 50-day simple moving average is $11.78 and its 200 day simple moving average is $11.93. Nuveen Quality Municipal Income Fund has a 12-month low of $11.04 and a 12-month high of $12.31.

Nuveen Quality Municipal Income Fund Announces Dividend

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

Hedge Funds Weigh In On Nuveen Quality Municipal Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in NAD. Smartleaf Asset Management LLC bought a new position in shares of Nuveen Quality Municipal Income Fund during the 3rd quarter valued at $29,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Nuveen Quality Municipal Income Fund during the 4th quarter valued at $32,000. Align Financial LLC bought a new position in shares of Nuveen Quality Municipal Income Fund during the 4th quarter valued at $35,000. Noble Wealth Management PBC grew its holdings in shares of Nuveen Quality Municipal Income Fund by 274.6% during the 4th 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 shares of Nuveen Quality Municipal Income Fund during the 4th quarter valued at $41,000.

About Nuveen Quality Municipal Income Fund

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.