Short Interest in Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Decreases By 21.0%

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 39,179 shares, a drop of 21.0% from the March 15th total of 49,621 shares. Based on an average daily trading volume, of 29,789 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.3% of the shares of the company are sold short.

Institutional Trading of Nuveen Arizona Quality Municipal Income Fund

Hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC boosted its stake in Nuveen Arizona Quality Municipal Income Fund by 129.0% during the fourth quarter. LPL Financial LLC now owns 120,906 shares of the investment management company’s stock worth $1,436,000 after buying an additional 68,109 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Nuveen Arizona Quality Municipal Income Fund by 27.0% in the 4th quarter. Wells Fargo & Company MN now owns 169,885 shares of the investment management company’s stock valued at $2,018,000 after buying an additional 36,090 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Nuveen Arizona Quality Municipal Income Fund during the 1st quarter worth about $211,000. Diversify Wealth Management LLC acquired a new stake in shares of Nuveen Arizona Quality Municipal Income Fund during the 2nd quarter valued at about $169,000. Finally, Bank of America Corp DE boosted its position in shares of Nuveen Arizona Quality Municipal Income Fund by 14.1% during the 2nd quarter. Bank of America Corp DE now owns 37,054 shares of the investment management company’s stock valued at $433,000 after acquiring an additional 4,593 shares in the last quarter. Institutional investors own 15.28% of the company’s stock.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

NAZ traded down $0.05 during trading on Friday, hitting $12.61. The stock had a trading volume of 5,002 shares, compared to its average volume of 27,192. Nuveen Arizona Quality Municipal Income Fund has a 12 month low of $11.40 and a 12 month high of $12.88. The company has a 50 day simple moving average of $12.26 and a 200-day simple moving average of $12.06.

Nuveen Arizona Quality Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be paid a $0.0655 dividend. The ex-dividend date is Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%.

About Nuveen Arizona Quality Municipal Income Fund

Nuveen Arizona Quality Municipal Income Fund (NYSE: NAZ) 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. Managed by Nuveen Asset Management, the fund focuses on investment-grade municipal obligations issued by or on behalf of entities located in the state of Arizona. Its portfolio typically includes general obligation bonds, revenue bonds and essential-purpose municipal securities backed by state and local governments and quasi-governmental agencies.

The fund employs fundamental credit analysis to select bonds that meet rigorous quality standards, aiming to preserve principal while generating tax-advantaged income.