Nuveen Quality Municipal Income Fund (NYSE:NAD) Short Interest Up 29.7% in June

Nuveen Quality Municipal Income Fund (NYSE:NAD) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 379,900 shares, an increase of 29.7% from the May 31st total of 292,900 shares. Based on an average trading volume of 690,300 shares, the days-to-cover ratio is presently 0.6 days.

Nuveen Quality Municipal Income Fund Price Performance

NAD traded down $0.01 during trading hours on Monday, reaching $11.73. 987,920 shares of the company’s stock traded hands, compared to its average volume of 626,227. The firm has a 50-day moving average price of $11.35 and a 200 day moving average price of $11.30. Nuveen Quality Municipal Income Fund has a 52-week low of $9.56 and a 52-week high of $11.93.

Nuveen Quality Municipal Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from Nuveen Quality Municipal Income Fund’s previous monthly dividend of $0.05. This represents a $0.90 dividend on an annualized basis and a yield of 7.67%.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of NAD. Karpus Management Inc. raised its position in Nuveen Quality Municipal Income Fund by 22.3% during the 4th quarter. Karpus Management Inc. now owns 11,763,244 shares of the financial services provider’s stock valued at $134,689,000 after purchasing an additional 2,148,012 shares in the last quarter. Fiera Capital Corp bought a new stake in Nuveen Quality Municipal Income Fund during the 4th quarter valued at $10,025,000. Deutsche Bank AG raised its position in Nuveen Quality Municipal Income Fund by 52.2% during the 3rd quarter. Deutsche Bank AG now owns 1,393,695 shares of the financial services provider’s stock valued at $14,132,000 after purchasing an additional 477,695 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Nuveen Quality Municipal Income Fund by 188.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 657,045 shares of the financial services provider’s stock valued at $7,523,000 after purchasing an additional 429,573 shares in the last quarter. Finally, Tyche Wealth Partners LLC bought a new stake in Nuveen Quality Municipal Income Fund during the 4th quarter valued at $4,663,000.

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.