Short Interest in Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) Declines By 41.1%

Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) saw a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 23,529 shares, a decrease of 41.1% from the May 14th total of 39,930 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 19,318 shares, the days-to-cover ratio is presently 1.2 days.

Nuveen Massachusetts Quality Municipal Income Fund Stock Up 0.8%

Shares of NMT stock traded up $0.10 on Tuesday, hitting $12.95. 3,634 shares of the stock were exchanged, compared to its average volume of 17,813. Nuveen Massachusetts Quality Municipal Income Fund has a one year low of $11.11 and a one year high of $13.69. The firm’s 50 day moving average is $12.74 and its two-hundred day moving average is $12.06.

Nuveen Massachusetts Quality Municipal Income Fund Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a dividend of $0.0605 per share. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 5.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Eagle Bay Advisors LLC bought a new position in shares of Nuveen Massachusetts Quality Municipal Income Fund during the 4th quarter worth $25,000. SHP Wealth Management bought a new position in shares of Nuveen Massachusetts Quality Municipal Income Fund during the 4th quarter worth $29,000. Moors & Cabot Inc. grew its stake in shares of Nuveen Massachusetts Quality Municipal Income Fund by 38.2% during the 3rd quarter. Moors & Cabot Inc. now owns 14,460 shares of the financial services provider’s stock worth $168,000 after acquiring an additional 4,000 shares during the period. Raymond James Financial Inc. grew its stake in shares of Nuveen Massachusetts Quality Municipal Income Fund by 25.1% during the 2nd quarter. Raymond James Financial Inc. now owns 41,665 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 8,352 shares during the period. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Nuveen Massachusetts Quality Municipal Income Fund during the 4th quarter worth $107,000. Institutional investors own 16.55% of the company’s stock.

Nuveen Massachusetts Quality Municipal Income Fund Company Profile

Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) is a closed-end management investment company that seeks to provide shareholders with a high level of current income that is exempt from regular U.S. federal income tax. The fund primarily invests in investment-grade municipal securities, with an emphasis on bonds issued by state and local governments and agencies in Massachusetts. Its portfolio includes general obligation bonds, revenue bonds, and other municipal debt instruments that meet the fund’s credit quality standards.

As part of the Nuveen family of investment products, the fund is managed by Nuveen’s municipal fixed income team.