Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Short Interest Up 30.0% in August

Key Points

• Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) experienced a 30.0% increase in short interest in August, reaching a total of 31,600 shares.
• The fund announced a monthly dividend of $0.0655 per share, effective October 1st, representing a dividend yield of 6.7%.
• Institutional investors currently hold 15.28% of the fund's stock, with several hedge funds significantly increasing their stakes over recent quarters.

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ - Get Free Report) was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totaling 31,600 shares, an increase of 30.0% from the July 31st total of 24,300 shares. Based on an average daily trading volume, of 19,100 shares, the days-to-cover ratio is currently 1.7 days. Based on an average daily trading volume, of 19,100 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Trading of Nuveen Arizona Quality Municipal Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Diversify Wealth Management LLC acquired a new stake in shares of Nuveen Arizona Quality Municipal Income Fund in the second quarter valued at approximately $169,000. Plan Group Financial LLC acquired a new position in Nuveen Arizona Quality Municipal Income Fund during the second quarter worth $139,000. Alpha Cubed Investments LLC increased its holdings in Nuveen Arizona Quality Municipal Income Fund by 41.5% during the second quarter. Alpha Cubed Investments LLC now owns 118,363 shares of the investment management company's stock worth $1,384,000 after buying an additional 34,737 shares during the last quarter. Integrity Alliance LLC. acquired a new position in Nuveen Arizona Quality Municipal Income Fund during the first quarter worth $939,000. Finally, Cetera Investment Advisers increased its holdings in Nuveen Arizona Quality Municipal Income Fund by 1.7% during the first quarter. Cetera Investment Advisers now owns 105,111 shares of the investment management company's stock worth $1,268,000 after buying an additional 1,722 shares during the last quarter. 15.28% of the stock is currently owned by institutional investors and hedge funds.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

NAZ traded down $0.01 during trading on Friday, reaching $11.78. The company had a trading volume of 21,699 shares, compared to its average volume of 19,538. Nuveen Arizona Quality Municipal Income Fund has a 12 month low of $11.28 and a 12 month high of $13.55. The business's fifty day moving average price is $11.80 and its 200 day moving average price is $11.88.

Nuveen Arizona Quality Municipal Income Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a $0.0655 dividend. The ex-dividend date is Monday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.7%.

Nuveen Arizona Quality Municipal Income Fund Company Profile

Nuveen Arizona Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is managed by Nuveen Asset Management, LLC. It invests in the fixed income markets of Arizona. The fund invests in municipal securities and other related investments the income, exempt from regular federal and Arizona income taxes that are rated Baa or BBB or better and having an average maturity of 18.66 years.