Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) Short Interest Update
Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) experienced a notable decrease in short interest in the month of May. As of May 15th, the short interest stood at 11,100 shares, marking a 20.7% drop from the total on April 30th, which was 14,000 shares. With an average daily trading volume of 16,100 shares, the days-to-cover ratio currently stands at 0.7 days.
On Friday, Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) saw its stock trade up by $0.09, reaching $10.58 during trading hours. The trading volume for the company’s stock was 6,018 shares, compared to the average volume of 11,687 shares. The stock’s 1-year low is $9.05, while the 1-year high is $10.95. Additionally, the 50-day moving average is $10.64, and the two-hundred day moving average is $10.56.
Moreover, Nuveen Massachusetts Quality Municipal Income Fund recently announced a monthly dividend to be paid on Monday, June 3rd. Investors of record on Wednesday, May 15th will receive a $0.0415 dividend. With the ex-dividend date set for Tuesday, May 14th, this represents a $0.50 dividend on an annualized basis, yielding 4.71%.
When it comes to hedge funds, several large investors have been active in trading Nuveen Massachusetts Quality Municipal Income Fund shares. Saba Capital Management L.P. increased its holdings by 43.9% in the third quarter, while Napa Wealth Management and PFG Investments LLC acquired new stakes in the fourth quarter and first quarter, respectively. Additionally, Herold Advisors Inc. and Wolverine Asset Management LLC have also shown activity in the stock, with the latter increasing its holdings by 23.4% in the fourth quarter.
Nuveen Massachusetts Quality Municipal Income Fund is a closed-ended fixed income mutual fund managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. Focused on the fixed income markets of Massachusetts, United States, the fund primarily invests in undervalued municipal securities and other related investments that are exempt from regular federal and Massachusetts income taxes.
In conclusion, Nuveen Massachusetts Quality Municipal Income Fund has seen a decline in short interest and continues to attract investor attention with its monthly dividend. With hedge funds actively trading its shares, the fund remains a prominent player in the fixed income market.
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