Nuveen Quality Municipal Income Fund (NYSE:NAD) Short Interest Update

Nuveen Quality Municipal Income Fund (NYSE:NAD) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 676,711 shares, an increase 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.

Nuveen Quality Municipal Income Fund Stock Performance

NAD stock traded down $0.12 during midday 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 52 week low of $10.40 and a 52 week 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. Investors of record on Monday, December 15th will be issued a dividend of $0.0705 per share. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Monday, December 15th.

Hedge Funds Weigh In On Nuveen Quality Municipal Income Fund

A number of hedge funds have recently modified their holdings of the company. Palisade Asset Management LLC purchased a new position in Nuveen Quality Municipal Income Fund during the 3rd quarter valued at about $44,000. Kestra Private Wealth Services LLC lifted its holdings in Nuveen Quality Municipal Income Fund by 82.3% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 18,480 shares of the financial services provider’s stock worth $216,000 after buying an additional 8,341 shares during the period. NewEdge Advisors LLC grew its position in shares of Nuveen Quality Municipal Income Fund by 24.2% in the 3rd quarter. NewEdge Advisors LLC now owns 197,183 shares of the financial services provider’s stock worth $2,305,000 after buying an additional 38,468 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC purchased a new position in shares of Nuveen Quality Municipal Income Fund during the third quarter valued at approximately $123,000. Finally, Bank of America Corp DE increased its stake in shares of Nuveen Quality Municipal Income Fund by 3.5% during the third quarter. Bank of America Corp DE now owns 2,752,323 shares of the financial services provider’s stock valued at $32,175,000 after buying an additional 92,389 shares during the period.

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.