Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Short Interest Up 120.3% in April

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ – Get Rating) saw a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 16,300 shares, a growth 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.

Shares of NAZ traded down $0.02 on Friday, reaching $12.82. 22,452 shares of the company’s stock traded hands, compared to its average volume of 26,897. The stock’s 50 day simple moving average is $13.13 and its two-hundred day simple moving average is $14.53. 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 announced a monthly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th will be given a $0.05 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Thursday, May 12th.

A number of large investors have recently added to or reduced their stakes in the business. Claraphi Advisory Network LLC purchased a new stake in Nuveen Arizona Quality Municipal Income Fund in the first quarter worth $163,000. Cetera Advisors LLC increased its position in Nuveen Arizona Quality Municipal Income Fund by 4.4% in the first quarter. Cetera Advisors LLC now owns 106,032 shares of the investment management company’s stock worth $1,442,000 after buying an additional 4,430 shares during the last quarter. Western Wealth Management LLC purchased a new stake in Nuveen Arizona Quality Municipal Income Fund in the first quarter worth $287,000. Commonwealth Equity Services LLC purchased a new stake in Nuveen Arizona Quality Municipal Income Fund in the first quarter worth $146,000. Finally, Alpha Cubed Investments LLC purchased a new stake in Nuveen Arizona Quality Municipal Income Fund in the first quarter worth $2,033,000. 11.43% of the stock is owned by institutional investors and hedge funds.

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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