Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Short Interest Drops 48.9%

Nuveen Quality Municipal Income Fund (NYSE:NAD) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 562,042 shares, a drop of 48.9% from the August 31st total of 1,098,846 shares. Based on an average trading volume of 1,242,879 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Nuveen Quality Municipal Income Fund in the 2nd quarter worth approximately $333,000. Smith Chas P & Associates PA Cpas purchased a new position in shares of Nuveen Quality Municipal Income Fund during the 2nd quarter worth approximately $157,000. RFG Advisory LLC increased its holdings in Nuveen Quality Municipal Income Fund by 5.1% in the 2nd quarter. RFG Advisory LLC now owns 52,498 shares of the financial services provider’s stock valued at $636,000 after purchasing an additional 2,552 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Nuveen Quality Municipal Income Fund by 25.5% in the 2nd quarter. NewEdge Advisors LLC now owns 486,357 shares of the financial services provider’s stock valued at $5,895,000 after purchasing an additional 98,725 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in Nuveen Quality Municipal Income Fund by 4.1% in the second quarter. Baird Financial Group Inc. now owns 116,533 shares of the financial services provider’s stock valued at $1,412,000 after purchasing an additional 4,556 shares during the period.

Nuveen Quality Municipal Income Fund Stock Performance

Shares of Nuveen Quality Municipal Income Fund stock traded up $0.20 during trading hours on Wednesday, hitting $10.11. The company’s stock had a trading volume of 2,674,125 shares, compared to its average volume of 809,430. Nuveen Quality Municipal Income Fund has a twelve month low of $9.66 and a twelve month high of $12.31. The firm has a fifty day moving average of $11.33 and a 200-day moving average of $11.64.

Nuveen Quality Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.0705 dividend. This represents a $0.85 annualized dividend and a yield of 8.4%. The ex-dividend date is Tuesday, September 15th.

About Nuveen Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund (NYSE: NAD) is a closed-end management investment company designed to provide current income that is exempt from regular federal income tax. The fund invests primarily in municipal securities issued by states, municipalities, public authorities and other governmental entities in the United States.

Its portfolio may include general obligation bonds, revenue bonds and other debt securities used to finance public services and infrastructure, such as transportation, education, utilities and health care facilities.