Short Interest in Nuveen Quality Municipal Income Fund (NYSE:NAD) Decreases By 27.5%

by · The Cerbat Gem

Nuveen Quality Municipal Income Fund (NYSE:NAD – Get Free Report) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 152,200 shares, a decrease 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 Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BNC Wealth Management LLC increased its position in shares of Nuveen Quality Municipal Income Fund by 1.5% during the third quarter. BNC Wealth Management LLC now owns 56,533 shares of the financial services provider’s stock worth $700,000 after purchasing an additional 850 shares in the last quarter. Integrated Capital Management Inc. increased its holdings in shares of Nuveen Quality Municipal Income Fund by 2.4% in the third quarter. Integrated Capital Management Inc. now owns 45,572 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 1,087 shares during the last quarter. Private Trust Co. NA raised its stake 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 worth $90,000 after purchasing an additional 1,100 shares during the period. Melone Private Wealth LLC grew its holdings in shares of Nuveen Quality Municipal Income Fund by 1.4% during the 3rd quarter. Melone Private Wealth LLC now owns 97,955 shares of the financial services provider’s stock worth $1,213,000 after purchasing an additional 1,385 shares during the period. Finally, Second Line Capital LLC raised its position in Nuveen Quality Municipal Income Fund by 15.9% in the first quarter. Second Line Capital LLC now owns 11,648 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 1,600 shares during the period.

Nuveen Quality Municipal Income Fund Stock Performance

NAD traded up $0.04 during midday trading on Thursday, reaching $12.08. The company had a trading volume of 556,706 shares, compared to its average volume of 683,128. Nuveen Quality Municipal Income Fund has a 1 year low of $10.56 and a 1 year high of $12.47. The business has a 50-day moving average of $12.16 and a two-hundred day moving average of $11.83.

Nuveen Quality Municipal Income Fund Increases Dividend

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

About Nuveen Quality Municipal Income Fund

(Get Free Report)

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.

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