Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Declares Monthly Dividend of $0.06

Key Points

• Nuveen Arizona Quality Municipal Income Fund declared a monthly dividend of $0.062 per share, payable September 1 to shareholders of record on August 14. The payment implies an annualized yield of approximately 6.1%.
• NAZ shares rose 1.0% to open at $12.22, compared with a 52-week range of $11.62 to $13.42.
• Institutional investors and hedge funds own 15.28% of the fund, with several firms—including Royal Bank of Canada, Raymond James and Bank of America—recently increasing their positions.

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ - Get Free Report) declared a monthly dividend on Monday, August 3rd. Shareholders of record on Friday, August 14th will be given a dividend of 0.062 per share by the investment management company on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, August 14th.

Nuveen Arizona Quality Municipal Income Fund Stock Up 1.0%

Shares of Nuveen Arizona Quality Municipal Income Fund stock opened at $12.22 on Tuesday. The firm's 50 day moving average price is $12.63 and its 200-day moving average price is $12.43. Nuveen Arizona Quality Municipal Income Fund has a 52-week low of $11.62 and a 52-week high of $13.42.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in shares of Nuveen Arizona Quality Municipal Income Fund by 11.1% in the first quarter. Royal Bank of Canada now owns 23,983 shares of the investment management company's stock worth $289,000 after purchasing an additional 2,391 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Nuveen Arizona Quality Municipal Income Fund in the 1st quarter valued at $211,000. Diversify Wealth Management LLC acquired a new stake in shares of Nuveen Arizona Quality Municipal Income Fund in the second quarter valued at about $169,000. Raymond James Financial Inc. increased its stake in Nuveen Arizona Quality Municipal Income Fund by 8.1% during the 2nd quarter. Raymond James Financial Inc. now owns 51,009 shares of the investment management company's stock worth $596,000 after buying an additional 3,813 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Nuveen Arizona Quality Municipal Income Fund by 14.1% during the second quarter. Bank of America Corp DE now owns 37,054 shares of the investment management company's stock worth $433,000 after purchasing an additional 4,593 shares in the last quarter. Institutional investors and hedge funds own 15.28% of the company's stock.

Nuveen Arizona Quality Municipal Income Fund Company Profile

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.

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