Short Interest in Nuveen Minnesota Quality Municipal Income Fund (NYSE:NMS) Drops By 24.0%

Nuveen Minnesota Quality Municipal Income Fund (NYSE:NMS) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 11,400 shares, a drop of 24.0% from the February 13th total of 15,000 shares. Based on an average daily volume of 15,200 shares, the short-interest ratio is presently 0.8 days.

Nuveen Minnesota Quality Municipal Income Fund Trading Down 0.5 %

Nuveen Minnesota Quality Municipal Income Fund stock traded down $0.06 during mid-day trading on Tuesday, reaching $12.13. The company had a trading volume of 17,317 shares, compared to its average volume of 15,071. Nuveen Minnesota Quality Municipal Income Fund has a 1 year low of $10.62 and a 1 year high of $13.76. The stock’s 50-day simple moving average is $12.36 and its 200-day simple moving average is $12.77.

Nuveen Minnesota Quality Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.0735 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.88 dividend on an annualized basis and a yield of 7.27%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. purchased a new position in Nuveen Minnesota Quality Municipal Income Fund in the fourth quarter valued at about $136,000. Vermillion Wealth Management Inc. purchased a new position in shares of Nuveen Minnesota Quality Municipal Income Fund during the 4th quarter worth approximately $209,000. Bank of America Corp DE increased its stake in shares of Nuveen Minnesota Quality Municipal Income Fund by 15.6% during the 4th quarter. Bank of America Corp DE now owns 17,981 shares of the company’s stock worth $222,000 after purchasing an additional 2,428 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its stake in shares of Nuveen Minnesota Quality Municipal Income Fund by 18.2% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 18,256 shares of the company’s stock worth $225,000 after purchasing an additional 2,815 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC purchased a new position in shares of Nuveen Minnesota Quality Municipal Income Fund during the 4th quarter worth approximately $254,000.

Nuveen Minnesota Quality Municipal Income Fund Company Profile

Nuveen Minnesota Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal securities that are exempt from regular federal and Minnesota personal income taxes.