Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Short Interest Update

Key Points

• Short interest in Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) fell 21.0% to 39,179 shares as of March 31, equal to 0.3% of the stock and a short-interest ratio of 1.3 days.
• The fund declared a monthly dividend of $0.0655 per share payable May 1 (record/ex-dividend date April 15), implying an annualized yield of about 6.2%.
• Institutional buying increased recently—LPL Financial raised its stake 129% to 120,906 shares and Wells Fargo lifted its position 27% to 169,885 shares—leaving institutions with roughly 15.28% ownership.

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ - Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 39,179 shares, a decrease of 21.0% from the March 15th total of 49,621 shares. Currently, 0.3% of the company's stock are short sold. Based on an average daily trading volume, of 29,789 shares, the short-interest ratio is currently 1.3 days.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

NYSE:NAZ traded down $0.14 on Thursday, reaching $12.66. The stock had a trading volume of 9,018 shares, compared to its average volume of 28,608. The company has a 50-day moving average of $12.24 and a 200 day moving average of $12.06. Nuveen Arizona Quality Municipal Income Fund has a 12-month low of $11.40 and a 12-month high of $12.88.

Nuveen Arizona Quality Municipal Income Fund Announces Dividend

The business also recently announced 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. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Wednesday, April 15th.

Institutional Investors Weigh In On Nuveen Arizona Quality Municipal Income Fund

Institutional investors and hedge funds have recently bought and sold shares of the business. LPL Financial LLC boosted its holdings in shares of Nuveen Arizona Quality Municipal Income Fund by 129.0% in the fourth quarter. LPL Financial LLC now owns 120,906 shares of the investment management company's stock valued at $1,436,000 after acquiring an additional 68,109 shares in the last quarter. Wells Fargo & Company MN lifted its position in 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 worth $2,018,000 after buying an additional 36,090 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Nuveen Arizona Quality Municipal Income Fund in the 1st quarter worth approximately $211,000. Diversify Wealth Management LLC bought a new position in shares of Nuveen Arizona Quality Municipal Income Fund during the 2nd quarter valued at $169,000. Finally, Bank of America Corp DE grew its stake in Nuveen Arizona Quality Municipal Income Fund by 14.1% in 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 buying an additional 4,593 shares during 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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