Nuveen Quality Municipal Income Fund (NYSE:NAD) Sees Significant Drop in Short Interest

Nuveen Quality Municipal Income Fund (NYSE:NAD) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 327,662 shares, a drop of 46.8% from the May 14th total of 615,438 shares. Based on an average trading volume of 686,358 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

Several institutional investors have recently made changes to their positions in NAD. Smartleaf Asset Management LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund in the 3rd quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Nuveen Quality Municipal Income Fund in the 4th quarter worth about $32,000. Align Financial LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund in the 4th quarter worth about $35,000. Noble Wealth Management PBC lifted its holdings in shares of Nuveen Quality Municipal Income Fund by 274.6% in the 4th quarter. Noble Wealth Management PBC now owns 3,233 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 2,370 shares during the last quarter. Finally, Advocate Investing Services LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund in the 4th quarter worth about $41,000.

Nuveen Quality Municipal Income Fund Price Performance

Shares of Nuveen Quality Municipal Income Fund stock traded down $0.05 during trading on Friday, hitting $11.96. The stock had a trading volume of 541,451 shares, compared to its average volume of 724,443. The firm’s fifty day simple moving average is $11.77 and its 200-day simple moving average is $11.93. Nuveen Quality Municipal Income Fund has a 12 month low of $11.04 and a 12 month high of $12.31.

Nuveen Quality Municipal Income Fund Announces Dividend

The company 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 $0.0705 dividend. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Monday, June 15th.

About Nuveen Quality Municipal Income Fund

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.