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

Nuveen Quality Municipal Income Fund (NYSE:NAD) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 152,200 shares, a decline of 27.5% from the October 15th total of 209,800 shares. Based on an average daily volume of 767,300 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of Nuveen Quality Municipal Income Fund

Institutional investors have recently made changes to their positions in the business. Icon Wealth Advisors LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund during the third quarter worth about $54,000. International Assets Investment Management LLC purchased a new position in shares of Nuveen Quality Municipal Income Fund in the 2nd quarter worth about $80,000. NBC Securities Inc. raised its stake in Nuveen Quality Municipal Income Fund by 87.3% in the 3rd quarter. NBC Securities Inc. now owns 6,772 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 3,156 shares during the period. Rosenberg Matthew Hamilton bought a new position in shares of Nuveen Quality Municipal Income Fund in the second quarter valued at approximately $86,000. Finally, Private Trust Co. NA lifted its position in Nuveen Quality Municipal Income Fund by 17.8% during the third quarter. Private Trust Co. NA now owns 7,267 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 1,100 shares during the last quarter.

Nuveen Quality Municipal Income Fund Stock Up 0.3 %

Shares of NYSE NAD traded up $0.04 during midday trading on Thursday, reaching $12.08. 556,706 shares of the company traded hands, compared to its average volume of 683,128. Nuveen Quality Municipal Income Fund has a 12 month low of $10.56 and a 12 month high of $12.47. The stock’s 50-day simple moving average is $12.16 and its 200-day simple moving average is $11.83.

Nuveen Quality Municipal Income Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a $0.0755 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Nuveen Quality Municipal Income Fund’s previous monthly dividend of $0.08. This represents a $0.91 dividend on an annualized basis and a dividend yield of 7.50%.

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.