Short Interest in Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) Drops By 41.1%

Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) saw a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 23,529 shares, a decrease of 41.1% from the May 14th total of 39,930 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 19,318 shares, the short-interest ratio is currently 1.2 days.

Institutional Trading of Nuveen Massachusetts Quality Municipal Income Fund

Several large investors have recently made changes to their positions in NMT. Raymond James Financial Inc. grew its holdings in shares of Nuveen Massachusetts Quality Municipal Income Fund by 25.1% during the second quarter. Raymond James Financial Inc. now owns 41,665 shares of the financial services provider’s stock worth $490,000 after purchasing an additional 8,352 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Nuveen Massachusetts Quality Municipal Income Fund by 12.2% during the second quarter. Bank of America Corp DE now owns 123,136 shares of the financial services provider’s stock worth $1,448,000 after purchasing an additional 13,370 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in Nuveen Massachusetts Quality Municipal Income Fund by 38.2% in the third quarter. Moors & Cabot Inc. now owns 14,460 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 4,000 shares during the last quarter. Sax Wealth Advisors LLC bought a new position in Nuveen Massachusetts Quality Municipal Income Fund in the fourth quarter valued at about $225,000. Finally, Eagle Bay Advisors LLC bought a new position in Nuveen Massachusetts Quality Municipal Income Fund in the fourth quarter valued at about $25,000. Institutional investors own 16.55% of the company’s stock.

Nuveen Massachusetts Quality Municipal Income Fund Stock Performance

Shares of NMT stock opened at $12.95 on Wednesday. The stock’s fifty day moving average is $12.74 and its 200-day moving average is $12.06. Nuveen Massachusetts Quality Municipal Income Fund has a 52 week low of $11.11 and a 52 week high of $13.69.

Nuveen Massachusetts Quality Municipal Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a dividend of $0.0605 per share. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Monday, June 15th.

About Nuveen Massachusetts Quality Municipal Income Fund

Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) 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. The fund primarily invests in investment-grade municipal securities, with an emphasis on bonds issued by state and local governments and agencies in Massachusetts. Its portfolio includes general obligation bonds, revenue bonds, and other municipal debt instruments that meet the fund’s credit quality standards.

As part of the Nuveen family of investment products, the fund is managed by Nuveen’s municipal fixed income team.