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

Nuveen Quality Municipal Income Fund (NYSE:NAD) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 676,711 shares, a growth of 134.7% from the November 30th total of 288,282 shares. Based on an average trading volume of 868,025 shares, the days-to-cover ratio is presently 0.8 days. Based on an average trading volume of 868,025 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Trading of Nuveen Quality Municipal Income Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. grew its position in shares of Nuveen Quality Municipal Income Fund by 1.9% during the 1st quarter. Invesco Ltd. now owns 182,138 shares of the financial services provider’s stock valued at $2,098,000 after purchasing an additional 3,475 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in Nuveen Quality Municipal Income Fund by 20.2% in the first quarter. Kestra Advisory Services LLC now owns 179,513 shares of the financial services provider’s stock worth $2,068,000 after purchasing an additional 30,161 shares during the last quarter. Guggenheim Capital LLC boosted its position in Nuveen Quality Municipal Income Fund by 8.9% during the first quarter. Guggenheim Capital LLC now owns 1,255,237 shares of the financial services provider’s stock valued at $14,460,000 after buying an additional 102,291 shares during the period. Northstar Financial Companies Inc. bought a new position in shares of Nuveen Quality Municipal Income Fund during the first quarter valued at about $119,000. Finally, WPG Advisers LLC purchased a new position in shares of Nuveen Quality Municipal Income Fund in the first quarter worth about $40,000.

Nuveen Quality Municipal Income Fund Price Performance

Shares of NYSE NAD traded down $0.12 during mid-day trading on Friday, hitting $11.92. The company had a trading volume of 1,139,254 shares, compared to its average volume of 776,078. Nuveen Quality Municipal Income Fund has a 1 year low of $10.40 and a 1 year high of $12.28. The stock’s 50-day moving average price is $11.99 and its 200-day moving average price is $11.61.

Nuveen Quality Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $0.0705 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Monday, December 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 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.