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

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ - Get Free Report) has seen a notable rise in short interest during February. By February 15th, short interest amounted to 26,900 shares, reflecting an increase of 100.7% from 13,400 shares reported at the end of January. Given an average trading volume of 28,300 shares, the current days-to-cover ratio stands at 1.0 days.

Institutional Investors Show Interest in Nuveen Arizona Quality Municipal Income Fund

Recently, several hedge funds have adjusted their holdings in Nuveen Arizona Quality Municipal Income Fund. For instance, Brooklyn FI LLC made a new investment in the fund during the fourth quarter valued at approximately $954,000. Similarly, Ameriflex Group Inc. entered a new stake estimated at around $53,000 during the same period. Furthermore, Western Wealth Management LLC increased its position in the fund by 2.5%, now holding 40,876 shares valued at $465,000 after acquiring an additional 987 shares. Cetera Investment Advisers also raised its stake by 1.8%, coming to own 103,389 shares valued at $1,176,000 following an addition of 1,787 shares. In addition, Stifel Financial Corp notably boosted its investment in Nuveen Arizona Quality Municipal Income Fund by 54.1%, now owning 38,208 shares estimated at $435,000 after purchasing an additional 13,419 shares. Overall, hedge funds and institutional investors control 15.28% of the company's stock.

Performance of Nuveen Arizona Quality Municipal Income Fund Stock

On Friday, shares of NAZ traded up by $0.08, reaching $12.71. Approximately 7,680 shares exchanged hands, compared to its average trading volume of 21,102 shares. Over the past year, Nuveen Arizona Quality Municipal Income Fund has experienced a low of $10.52 and a high of $13.33. The stock has maintained a fifty-day moving average of $12.09 alongside a 200-day moving average of $11.94.

Dividend Announcement from Nuveen Arizona Quality Municipal Income Fund

The company recently declared its monthly dividend, scheduled for payment on Monday, March 3rd. Shareholders on record as of Friday, February 14th will receive a dividend of $0.0725. The ex-dividend date was also February 14th. This aligns with an annualized dividend of $0.87, presenting a dividend yield of 6.85%.

Overview of Nuveen Arizona Quality Municipal Income Fund

Nuveen Arizona Quality Municipal Income Fund is a closed-ended fixed income mutual fund, managed by Nuveen Asset Management, LLC, and launched by Nuveen Investments, Inc. This fund primarily invests in Arizona's fixed income markets, focusing on municipal securities and related investments that are exempt from federal and Arizona income taxes. The securities held are typically rated Baa or BBB and exhibit an average maturity of 18.66 years.

Market Insights

Investors are encouraged to assess industry trends and potential opportunities for investment. It remains essential to examine market performance and strategic movements within the fund's management.

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