Nuveen Quality Municipal Income Fund (NYSE:NAD) Short Interest Up 192.8% in May

Nuveen Quality Municipal Income Fund (NYSE:NAD) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 615,438 shares, a growth of 192.8% from the April 30th total of 210,173 shares. Based on an average trading volume of 707,070 shares, the days-to-cover ratio is presently 0.9 days.

Nuveen Quality Municipal Income Fund Price Performance

Shares of NAD traded up $0.07 during mid-day trading on Friday, reaching $11.91. 695,418 shares of the company were exchanged, compared to its average volume of 727,928. Nuveen Quality Municipal Income Fund has a 52 week low of $11.04 and a 52 week high of $12.31. The business has a 50 day simple moving average of $11.70 and a two-hundred day simple moving average of $11.94.

Nuveen Quality Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a $0.0705 dividend. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Friday, May 15th.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

A number of hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley increased its holdings in Nuveen Quality Municipal Income Fund by 0.7% in the fourth quarter. Morgan Stanley now owns 7,179,292 shares of the financial services provider’s stock worth $86,295,000 after purchasing an additional 46,501 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Nuveen Quality Municipal Income Fund by 3.5% in the 3rd quarter. Bank of America Corp DE now owns 2,752,323 shares of the financial services provider’s stock worth $32,175,000 after purchasing an additional 92,389 shares in the last quarter. Guggenheim Capital LLC grew its position in Nuveen Quality Municipal Income Fund by 45.9% in the 4th quarter. Guggenheim Capital LLC now owns 2,572,898 shares of the financial services provider’s stock valued at $30,926,000 after purchasing an additional 809,838 shares during the period. Raymond James Financial Inc. increased its stake in Nuveen Quality Municipal Income Fund by 22.7% during the 3rd quarter. Raymond James Financial Inc. now owns 2,436,790 shares of the financial services provider’s stock valued at $28,486,000 after purchasing an additional 450,413 shares in the last quarter. Finally, McGowan Group Asset Management Inc. raised its holdings in Nuveen Quality Municipal Income Fund by 4.5% during the fourth quarter. McGowan Group Asset Management Inc. now owns 1,362,021 shares of the financial services provider’s stock worth $16,371,000 after buying an additional 58,681 shares during the last quarter.

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.