Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Sees Large Decrease in Short Interest

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) was the recipient of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 43,919 shares, a drop of 45.1% from the June 15th total of 79,997 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 19,056 shares, the short-interest ratio is presently 2.3 days.

Nuveen Arizona Quality Municipal Income Fund Price Performance

Shares of Nuveen Arizona Quality Municipal Income Fund stock opened at $12.60 on Wednesday. Nuveen Arizona Quality Municipal Income Fund has a one year low of $11.50 and a one year high of $13.42. The business has a 50-day simple moving average of $12.75 and a 200-day simple moving average of $12.39.

Nuveen Arizona Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be paid a dividend of $0.062 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%.

Institutional Trading of Nuveen Arizona Quality Municipal Income Fund

Several institutional investors have recently modified their holdings of NAZ. Wells Fargo & Company MN boosted its holdings in shares of Nuveen Arizona Quality Municipal Income Fund by 27.0% in the 4th quarter. Wells Fargo & Company MN now owns 169,885 shares of the investment management company’s stock valued at $2,018,000 after buying an additional 36,090 shares in the last quarter. LPL Financial LLC raised its stake in shares of Nuveen Arizona Quality Municipal Income Fund by 129.0% during the fourth quarter. LPL Financial LLC now owns 120,906 shares of the investment management company’s stock worth $1,436,000 after purchasing an additional 68,109 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Nuveen Arizona Quality Municipal Income Fund by 1.5% in the 1st quarter. Cetera Investment Advisers now owns 101,300 shares of the investment management company’s stock worth $1,215,000 after acquiring an additional 1,542 shares during the period. Western Wealth Management LLC purchased a new stake in Nuveen Arizona Quality Municipal Income Fund in the 1st quarter valued at approximately $627,000. Finally, Raymond James Financial Inc. lifted its holdings in shares of Nuveen Arizona Quality Municipal Income Fund by 8.1% in the 2nd quarter. Raymond James Financial Inc. now owns 51,009 shares of the investment management company’s stock valued at $596,000 after buying an additional 3,813 shares during the period. Hedge funds and other institutional investors own 15.28% of the company’s stock.

About Nuveen Arizona Quality Municipal Income Fund

Nuveen Arizona Quality Municipal Income Fund (NYSE: NAZ) is a closed-end management investment company that seeks to provide shareholders with a high level of current income that is exempt from regular U.S. federal income tax. Managed by Nuveen Asset Management, the fund focuses on investment-grade municipal obligations issued by or on behalf of entities located in the state of Arizona. Its portfolio typically includes general obligation bonds, revenue bonds and essential-purpose municipal securities backed by state and local governments and quasi-governmental agencies.

The fund employs fundamental credit analysis to select bonds that meet rigorous quality standards, aiming to preserve principal while generating tax-advantaged income.