Nuveen Georgia Quality Municipal Income Fund (NYSE:NKG) Short Interest Down 59.2% in August

Nuveen Georgia Quality Municipal Income Fund (NYSE:NKG) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 4,900 shares, a drop of 59.2% from the August 15th total of 12,000 shares. Based on an average daily volume of 12,500 shares, the short-interest ratio is presently 0.4 days.

Hedge funds have recently added to or reduced their stakes in the company. Strategic Blueprint LLC purchased a new position in shares of Nuveen Georgia Quality Municipal Income Fund in the 2nd quarter worth $46,000. LPL Financial LLC purchased a new position in shares of Nuveen Georgia Quality Municipal Income Fund in the 2nd quarter worth $161,000. Narwhal Capital Management purchased a new position in shares of Nuveen Georgia Quality Municipal Income Fund in the 2nd quarter worth $506,000. Morgan Stanley boosted its stake in shares of Nuveen Georgia Quality Municipal Income Fund by 1.8% in the 1st quarter. Morgan Stanley now owns 72,383 shares of the asset manager’s stock worth $942,000 after buying an additional 1,259 shares during the last quarter. Finally, 1607 Capital Partners LLC raised its holdings in Nuveen Georgia Quality Municipal Income Fund by 1.8% in the 1st quarter. 1607 Capital Partners LLC now owns 290,392 shares of the asset manager’s stock worth $3,778,000 after purchasing an additional 5,000 shares during the period.

NKG traded down $0.01 during trading on Thursday, hitting $13.78. 13,640 shares of the company’s stock traded hands, compared to its average volume of 17,879. The company’s 50 day simple moving average is $13.83 and its two-hundred day simple moving average is $13.56. Nuveen Georgia Quality Municipal Income Fund has a 12-month low of $11.88 and a 12-month high of $14.21.

The firm also recently announced a monthly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 15th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $0.54 annualized dividend and a yield of 3.92%.

Nuveen Georgia Quality Municipal Income Fund Company Profile

Nuveen Georgia Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors, LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the Georgia. The fund invests into undervalued municipal securities and other related investments the income from which is exempt from regular federal and Georgia income taxes.

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