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

The Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) experienced a remarkable increase in short interest throughout February. As of February 15th, the short interest had risen to 26,900 shares, reflecting a substantial growth of 100.7% from the 13,400 shares reported at the end of January. With an average daily trading volume of 28,300 shares, the current days-to-cover ratio stands at 1.0 days.

Institutional Investors Adjust Their Holdings

In recent developments, various hedge funds have made adjustments to their positions in the Nuveen Arizona Quality Municipal Income Fund. For example, Brooklyn FI LLC acquired a new stake valued at around $954,000 during the last quarter. Similarly, Ameriflex Group Inc. entered the fund with a new position worth about $53,000. Additionally, Western Wealth Management LLC increased its stake by 2.5%, bringing its total ownership to 40,876 shares valued at $465,000 after purchasing an extra 987 shares. Cetera Investment Advisers also raised its holdings by 1.8%, now owning 103,389 shares evaluated at $1.176 million after an acquisition of 1,787 shares. Lastly, Stifel Financial Corp significantly bolstered its stake by 54.1%, owning 38,208 shares valued at $435,000 after acquiring 13,419 additional shares. Overall, hedge funds and institutional investors currently own 15.28% of the company’s stock.

Performance of Nuveen Arizona Quality Municipal Income Fund Stock

On Friday, the NAZ stock saw an uptick of 0.6%, reaching a price of $12.71. A total of 7,680 shares were traded that day, compared to the average volume of 21,102 shares. Over the past year, the stock has recorded a low of $10.52 and a high of $13.33. Its 50-day moving average is $12.09, while the 200-day moving average stands at $11.94.

Recent Dividend Declaration

Moreover, the company has recently announced a monthly dividend to be distributed on March 3rd. Shareholders on record as of February 14th are to receive a dividend of $0.0725 per share. The ex-dividend date is also set for February 14th. This equates to an annualized dividend of $0.87, which corresponds to a dividend yield of 6.85%.

Overview of Nuveen Arizona Quality Municipal Income Fund

The Nuveen Arizona Quality Municipal Income Fund is a closed-end mutual fund managed by Nuveen Investments, Inc. The fund focuses on fixed-income markets within Arizona, investing primarily in municipal securities that are exempt from federal and Arizona income taxes. It targets bonds rated Baa or BBB and boasts an average maturity period of approximately 18.66 years.

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Nuveen, Investors, Dividends