Short Interest in Nuveen Quality Municipal Income Fund (NYSE:NAD) Drops By 33.7%

Nuveen Quality Municipal Income Fund (NYSE:NAD) was the target of a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 317,900 shares, a drop of 33.7% from the May 15th total of 479,400 shares. Based on an average trading volume of 928,000 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Lowe Wealth Advisors LLC raised its position in shares of Nuveen Quality Municipal Income Fund by 76.3% during the first quarter. Lowe Wealth Advisors LLC now owns 2,174 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 941 shares during the period. WASHINGTON TRUST Co purchased a new position in Nuveen Quality Municipal Income Fund in the 4th quarter worth about $26,000. N.E.W. Advisory Services LLC acquired a new stake in Nuveen Quality Municipal Income Fund during the 1st quarter worth about $27,000. Hurley Capital LLC acquired a new stake in Nuveen Quality Municipal Income Fund during the 4th quarter worth about $28,000. Finally, Eastern Bank purchased a new stake in Nuveen Quality Municipal Income Fund during the first quarter valued at about $29,000.

Nuveen Quality Municipal Income Fund Stock Performance

NAD opened at $11.18 on Tuesday. The business has a 50 day moving average price of $11.20 and a two-hundred day moving average price of $11.55. Nuveen Quality Municipal Income Fund has a 1-year low of $10.40 and a 1-year high of $12.47.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.0755 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.91 annualized dividend and a dividend yield of 8.10%.

About Nuveen Quality Municipal Income Fund

Nuveen 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 United States. The fund invests in undervalued municipal securities and other related investments, the income from which is exempt from regular federal income taxes.