Nuveen Quality Municipal Income Fund (NYSE:NAD) Sees Significant Growth in Short Interest

Nuveen Quality Municipal Income Fund (NYSE:NAD) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 225,700 shares, an increase of 71.6% from the February 28th total of 131,500 shares. Based on an average daily trading volume, of 800,400 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bramshill Investments LLC increased its position in shares of Nuveen Quality Municipal Income Fund by 16.1% in the fourth quarter. Bramshill Investments LLC now owns 4,237,821 shares of the financial services provider’s stock valued at $49,413,000 after acquiring an additional 588,021 shares during the last quarter. Bank of America Corp DE grew its stake in Nuveen Quality Municipal Income Fund by 12.6% in the fourth quarter. Bank of America Corp DE now owns 2,177,137 shares of the financial services provider’s stock valued at $25,385,000 after purchasing an additional 243,658 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Nuveen Quality Municipal Income Fund during the 4th quarter worth approximately $21,625,000. Guggenheim Capital LLC raised its stake in shares of Nuveen Quality Municipal Income Fund by 8.8% during the 4th quarter. Guggenheim Capital LLC now owns 1,152,946 shares of the financial services provider’s stock worth $13,443,000 after purchasing an additional 93,338 shares in the last quarter. Finally, McGowan Group Asset Management Inc. boosted its holdings in shares of Nuveen Quality Municipal Income Fund by 19.9% in the 4th quarter. McGowan Group Asset Management Inc. now owns 1,081,837 shares of the financial services provider’s stock valued at $12,614,000 after buying an additional 179,620 shares during the last quarter.

Nuveen Quality Municipal Income Fund Stock Performance

NYSE NAD opened at $11.42 on Monday. Nuveen Quality Municipal Income Fund has a 52 week low of $10.84 and a 52 week high of $13.29. The stock’s 50 day moving average price is $11.75 and its two-hundred day moving average price is $11.93.

Nuveen Quality Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.0755 dividend. This represents a $0.91 dividend on an annualized basis and a yield of 7.94%. The ex-dividend date of this dividend is Friday, March 14th.

Nuveen Quality Municipal Income Fund Company Profile

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.