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

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 24,986 shares, a growth of 94.0% from the September 30th total of 12,881 shares. Based on an average trading volume of 49,443 shares, the short-interest ratio is presently 0.5 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NAZ. Cetera Investment Advisers increased its position in Nuveen Arizona Quality Municipal Income Fund by 1.5% in the 1st quarter. Cetera Investment Advisers now owns 101,300 shares of the investment management company’s stock valued at $1,215,000 after acquiring an additional 1,542 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of Nuveen Arizona Quality Municipal Income Fund in the second quarter worth about $662,000. Bank of America Corp DE acquired a new position in shares of Nuveen Arizona Quality Municipal Income Fund during the second quarter worth approximately $635,000. Kingswood Wealth Advisors LLC lifted its position in shares of Nuveen Arizona Quality Municipal Income Fund by 10.2% during the third quarter. Kingswood Wealth Advisors LLC now owns 40,000 shares of the investment management company’s stock worth $423,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its position in shares of Nuveen Arizona Quality Municipal Income Fund by 36.5% during the first quarter. Diversify Wealth Management LLC now owns 28,036 shares of the investment management company’s stock worth $353,000 after purchasing an additional 7,500 shares in the last quarter. Institutional investors and hedge funds own 15.28% of the company’s stock.

Nuveen Arizona Quality Municipal Income Fund Price Performance

Nuveen Arizona Quality Municipal Income Fund stock opened at $10.56 on Tuesday. The business’s fifty day moving average is $11.20 and its two-hundred day moving average is $12.12. Nuveen Arizona Quality Municipal Income Fund has a 52 week low of $10.18 and a 52 week high of $13.42.

Nuveen Arizona Quality Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, November 2nd. Investors of record on Thursday, October 15th were issued a $0.0620 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Thursday, October 15th.

Nuveen Arizona Quality Municipal Income Fund Company Profile

Nuveen Arizona Quality Municipal Income Fund (NYSE: NAZ) is a closed-end management investment company designed to provide current income that is exempt from regular federal income tax and Arizona state income tax. The fund invests primarily in municipal securities issued by or on behalf of Arizona state and local governments, as well as related public authorities.

Its portfolio may include tax-exempt bonds used to finance public infrastructure and essential services, such as schools, transportation systems, utilities, health care facilities and other governmental projects.