Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Sees Significant Growth in Short Interest

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ – Get Rating) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 16,300 shares, an increase of 120.3% from the April 15th total of 7,400 shares. Based on an average trading volume of 25,700 shares, the days-to-cover ratio is currently 0.6 days.

NYSE:NAZ opened at $12.84 on Friday. The company has a fifty day moving average of $13.17 and a 200 day moving average of $14.57. Nuveen Arizona Quality Municipal Income Fund has a 52 week low of $12.50 and a 52 week high of $16.25.

The company also recently declared a monthly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 13th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 4.67%.

A number of large investors have recently bought and sold shares of NAZ. Concourse Financial Group Securities Inc. purchased a new position in Nuveen Arizona Quality Municipal Income Fund during the 4th quarter valued at $34,000. Wells Fargo & Company MN increased its position in Nuveen Arizona Quality Municipal Income Fund by 2.1% during the 4th quarter. Wells Fargo & Company MN now owns 121,739 shares of the investment management company’s stock valued at $1,947,000 after purchasing an additional 2,483 shares during the period. Cetera Advisors LLC increased its position in Nuveen Arizona Quality Municipal Income Fund by 2.6% during the 3rd quarter. Cetera Advisors LLC now owns 104,283 shares of the investment management company’s stock valued at $1,635,000 after purchasing an additional 2,646 shares during the period. Bank of America Corp DE increased its position in Nuveen Arizona Quality Municipal Income Fund by 18.8% during the 2nd quarter. Bank of America Corp DE now owns 29,142 shares of the investment management company’s stock valued at $472,000 after purchasing an additional 4,608 shares during the period. Finally, CWM LLC purchased a new position in Nuveen Arizona Quality Municipal Income Fund during the 4th quarter valued at $112,000. Institutional investors own 11.43% of the company’s stock.

About Nuveen Arizona Quality Municipal Income Fund (Get Rating)

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.

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