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

The Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) has seen a notable rise in short interest as of February. On February 15th, the total short interest amounted to 26,900 shares, marking an increase of 100.7% compared to the total of 13,400 shares reported on January 31st. With an average daily trading volume of 28,300 shares, the current days-to-cover ratio stands at 1.0 days.

Institutional Investors Show Interest in the Fund

Recently, several hedge funds have adjusted their positions in the Nuveen Arizona Quality Municipal Income Fund. Brooklyn FI LLC acquired a new stake in the fund during the fourth quarter, valued at about $954,000. Similarly, Ameriflex Group Inc. also entered a new position in the fund worth approximately $53,000. Furthermore, Western Wealth Management LLC increased its stake in the fund by 2.5% in the fourth quarter, now holding 40,876 shares valued at $465,000 after an additional purchase of 987 shares. Cetera Investment Advisers also raised its stake by 1.8%, owning 103,389 shares valued at $1,176,000 following an increase of 1,787 shares during the same period. Stifel Financial Corp significantly upped its stake by 54.1%, owning 38,208 shares valued at $435,000 after an additional purchase of 13,419 shares. Altogether, institutional investors own 15.28% of the total shares of the fund.

Recent Performance of Nuveen Arizona Quality Municipal Income Fund Stock

On the trading day last Friday, NAZ stock rose by $0.08, reaching $12.71. The trading volume for that day was 7,680 shares, compared to its usual average of 21,102 shares. Over the last year, the stock has fluctuated, with a low of $10.52 and a high of $13.33. Currently, the fifty-day moving average for the stock is $12.09, while the 200-day moving average stands at $11.94.

Dividend Declaration by the Fund

Additionally, the fund has announced a monthly dividend that will be distributed on March 3rd. This dividend is set at $0.0725, with the record date being February 14th. The ex-dividend date was also February 14th. This results in an annualized dividend of $0.87, translating to a dividend yield of 6.85%.

Overview of Nuveen Arizona Quality Municipal Income Fund

Nuveen Arizona Quality Municipal Income Fund is a closed-end mutual fund focused on fixed-income investments, launched by Nuveen Investments, Inc. It is managed by Nuveen Asset Management, LLC and primarily invests in municipal securities and similar instruments that provide income exempt from federal and Arizona state income taxes. The fund typically targets investments rated Baa or BBB and above, with an average maturity of about 18.66 years.

Investment Considerations

Before considering an investment in the Nuveen Arizona Quality Municipal Income Fund, it is important to review current analyst ratings and recommendations. While the fund currently holds a Hold rating, analysts have identified other potential opportunities that could present better investment value. For more information, investors may want to explore alternative stocks recommended by market analysts.

Overall, as market conditions evolve, it's essential for investors to stay informed about their investment choices, particularly in sectors like municipal income funds, where market interest can shift rapidly.

Nuveen, Investment, Municipal