Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Short Interest Jumps 524.1%

Nuveen Quality Municipal Income Fund (NYSE:NAD) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 336,811 shares, a growth of 524.1% from the September 30th total of 53,969 shares. Based on an average trading volume of 2,016,736 shares, the short-interest ratio is currently 0.2 days.

Insider Activity at Nuveen Quality Municipal Income Fund

In related news, insider Terence J. Toth acquired 7,090 shares of the stock in a transaction that occurred on Wednesday, October 14th. The stock was purchased at an average price of $10.13 per share, with a total value of $71,821.70. Following the transaction, the insider owned 11,221 shares of the company’s stock, valued at approximately $113,668.73. This trade represents a 171.63% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Young L. Robert sold 32,727 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $10.32, for a total value of $337,742.64. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Trading of Nuveen Quality Municipal Income Fund

A number of large investors have recently modified their holdings of NAD. Bank of America Corp DE acquired a new position in shares of Nuveen Quality Municipal Income Fund during the second quarter worth about $28,087,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Nuveen Quality Municipal Income Fund by 48.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,373,096 shares of the financial services provider’s stock valued at $16,642,000 after acquiring an additional 445,351 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Nuveen Quality Municipal Income Fund during the 2nd quarter worth about $5,046,000. Palogic Value Management L.P. purchased a new stake in Nuveen Quality Municipal Income Fund during the second quarter worth approximately $4,250,000. Finally, LM Advisors LLC acquired a new position in Nuveen Quality Municipal Income Fund in the second quarter valued at approximately $3,645,000.

Nuveen Quality Municipal Income Fund Price Performance

NAD traded down $0.01 during mid-day trading on Tuesday, hitting $10.56. 494,657 shares of the stock were exchanged, compared to its average volume of 895,884. The firm’s fifty day moving average is $10.78 and its two-hundred day moving average is $11.61. Nuveen Quality Municipal Income Fund has a 1-year low of $9.66 and a 1-year high of $12.31.

Nuveen Quality Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.0705 per share. The ex-dividend date is Thursday, October 15th. This represents a $0.85 dividend on an annualized basis and a yield of 8.0%.

About Nuveen Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund (NYSE: NAD) is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax. The fund invests primarily in a diversified portfolio of municipal obligations issued by U.S. states, cities, counties, and other public entities.

The fund’s holdings may include general obligation bonds, revenue bonds, and other tax-exempt municipal securities used to finance public infrastructure and essential services.