Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Short Interest Up 955.6% in March

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 9,500 shares, an increase of 955.6% from the February 29th total of 900 shares. Based on an average daily volume of 20,300 shares, the short-interest ratio is presently 0.5 days.

Nuveen Arizona Quality Municipal Income Fund Price Performance

Nuveen Arizona Quality Municipal Income Fund stock remained flat at $10.95 during midday trading on Thursday. The company’s stock had a trading volume of 553 shares, compared to its average volume of 15,819. The stock’s fifty day moving average is $10.88 and its 200-day moving average is $10.40. Nuveen Arizona Quality Municipal Income Fund has a one year low of $9.22 and a one year high of $11.37.

Nuveen Arizona Quality Municipal Income Fund Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be issued a $0.0425 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 4.66%. This is a boost from Nuveen Arizona Quality Municipal Income Fund’s previous monthly dividend of $0.04. The ex-dividend date of this dividend is Thursday, March 14th.

Institutional Trading of Nuveen Arizona Quality Municipal Income Fund

A number of large investors have recently bought and sold shares of NAZ. Bank of America Corp DE raised its stake in Nuveen Arizona Quality Municipal Income Fund by 5.4% during the 1st quarter. Bank of America Corp DE now owns 26,927 shares of the investment management company’s stock valued at $366,000 after acquiring an additional 1,383 shares during the last quarter. Morgan Stanley raised its position in Nuveen Arizona Quality Municipal Income Fund by 0.9% during the 4th quarter. Morgan Stanley now owns 196,347 shares of the investment management company’s stock worth $2,191,000 after buying an additional 1,767 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Nuveen Arizona Quality Municipal Income Fund by 10.0% in the 1st quarter. Ameriprise Financial Inc. now owns 21,821 shares of the investment management company’s stock worth $247,000 after acquiring an additional 1,986 shares during the period. Raymond James & Associates increased its stake in shares of Nuveen Arizona Quality Municipal Income Fund by 7.0% during the third quarter. Raymond James & Associates now owns 30,552 shares of the investment management company’s stock worth $294,000 after acquiring an additional 2,000 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in Nuveen Arizona Quality Municipal Income Fund by 6.1% during the first quarter. Commonwealth Equity Services LLC now owns 42,396 shares of the investment management company’s stock worth $479,000 after purchasing an additional 2,421 shares in the last quarter. Institutional investors and hedge funds own 15.28% of the company’s stock.

About Nuveen Arizona Quality Municipal Income Fund

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.