Nuveen Quality Municipal Income Fund (NYSE:NAD) Short Interest Up 76.0% in June

Nuveen Quality Municipal Income Fund (NYSE:NAD) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 576,564 shares, a growth of 76.0% from the May 31st total of 327,662 shares. Based on an average daily volume of 679,281 shares, the days-to-cover ratio is presently 0.8 days.

Nuveen Quality Municipal Income Fund Price Performance

NAD stock opened at $12.05 on Friday. Nuveen Quality Municipal Income Fund has a 12 month low of $11.04 and a 12 month high of $12.31. The company’s 50-day moving average price is $11.84 and its two-hundred day moving average price is $11.92.

Nuveen Quality Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given a dividend of $0.0705 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 7.0%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NAD. Whittier Trust Co. of Nevada Inc. bought a new stake in Nuveen Quality Municipal Income Fund during the fourth quarter worth $32,000. Align Financial LLC bought a new position in shares of Nuveen Quality Municipal Income Fund in the 4th quarter valued at $35,000. Noble Wealth Management PBC increased its stake 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 valued at $39,000 after purchasing an additional 2,370 shares during the last quarter. Advocate Investing Services LLC bought a new position in shares of Nuveen Quality Municipal Income Fund in the 4th quarter valued at $41,000. Finally, Capital Analysts LLC acquired a new position in shares of Nuveen Quality Municipal Income Fund during the 4th quarter worth $42,000.

Nuveen Quality Municipal Income Fund Company Profile

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.