Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) Sees Large Drop in Short Interest

Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) was the target of a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 23,529 shares, a decrease of 41.1% from the May 14th total of 39,930 shares. Based on an average daily volume of 19,318 shares, the short-interest ratio is presently 1.2 days. Approximately 0.2% of the company’s shares are sold short.

Institutional Investors Weigh In On Nuveen Massachusetts Quality Municipal Income Fund

Several hedge funds have recently modified their holdings of NMT. Eagle Bay Advisors LLC purchased a new stake in shares of Nuveen Massachusetts Quality Municipal Income Fund during the fourth quarter valued at $25,000. SHP Wealth Management acquired a new position in Nuveen Massachusetts Quality Municipal Income Fund during the fourth quarter valued at $29,000. CIBC Private Wealth Group LLC acquired a new position in Nuveen Massachusetts Quality Municipal Income Fund during the fourth quarter valued at $107,000. Wolverine Asset Management LLC acquired a new position in Nuveen Massachusetts Quality Municipal Income Fund during the fourth quarter valued at $131,000. Finally, Kovack Advisors Inc. acquired a new position in Nuveen Massachusetts Quality Municipal Income Fund during the fourth quarter valued at $132,000. 16.55% of the stock is owned by hedge funds and other institutional investors.

Nuveen Massachusetts Quality Municipal Income Fund Trading Down 1.0%

Shares of NYSE NMT traded down $0.13 during mid-day trading on Monday, hitting $12.85. 13,768 shares of the company traded hands, compared to its average volume of 18,274. Nuveen Massachusetts Quality Municipal Income Fund has a 1 year low of $11.11 and a 1 year high of $13.69. The business has a 50 day moving average of $12.72 and a two-hundred day moving average of $12.05.

Nuveen Massachusetts Quality Municipal Income Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be issued a dividend of $0.0605 per share. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Monday, June 15th.

About Nuveen Massachusetts Quality Municipal Income Fund

Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) 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. The fund primarily invests in investment-grade municipal securities, with an emphasis on bonds issued by state and local governments and agencies in Massachusetts. Its portfolio includes general obligation bonds, revenue bonds, and other municipal debt instruments that meet the fund’s credit quality standards.

As part of the Nuveen family of investment products, the fund is managed by Nuveen’s municipal fixed income team.