Nuveen New York Quality Municipal Income Fund (NYSE:NAN) Short Interest Up 73.4% in January

Nuveen New York Quality Municipal Income Fund (NYSE:NANGet Free Report) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 107,700 shares, an increase of 73.4% from the January 15th total of 62,100 shares. Based on an average daily volume of 92,500 shares, the short-interest ratio is presently 1.2 days.

Nuveen New York Quality Municipal Income Fund Stock Performance

Shares of NAN stock traded up $0.07 during mid-day trading on Monday, hitting $11.02. The company’s stock had a trading volume of 108,039 shares, compared to its average volume of 69,808. The company’s fifty day simple moving average is $10.91 and its 200-day simple moving average is $10.31. Nuveen New York Quality Municipal Income Fund has a 52 week low of $9.11 and a 52 week high of $11.34.

Nuveen New York Quality Municipal Income Fund Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, March 1st. Shareholders of record on Thursday, February 15th will be given a dividend of $0.043 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.52 annualized dividend and a dividend yield of 4.68%.

Hedge Funds Weigh In On Nuveen New York Quality Municipal Income Fund

Several hedge funds have recently modified their holdings of NAN. Saba Capital Management L.P. grew its position in shares of Nuveen New York Quality Municipal Income Fund by 125.9% during the 3rd quarter. Saba Capital Management L.P. now owns 719,401 shares of the financial services provider’s stock valued at $6,957,000 after purchasing an additional 400,970 shares in the last quarter. Logan Stone Capital LLC lifted its stake in Nuveen New York Quality Municipal Income Fund by 244.5% in the fourth quarter. Logan Stone Capital LLC now owns 245,306 shares of the financial services provider’s stock worth $2,625,000 after purchasing an additional 174,103 shares during the last quarter. AQR Arbitrage LLC lifted its stake in Nuveen New York Quality Municipal Income Fund by 70.0% in the third quarter. AQR Arbitrage LLC now owns 223,157 shares of the financial services provider’s stock worth $2,158,000 after purchasing an additional 91,874 shares during the last quarter. Robinson Capital Management LLC bought a new stake in Nuveen New York Quality Municipal Income Fund in the third quarter worth $636,000. Finally, Morgan Stanley lifted its stake in Nuveen New York Quality Municipal Income Fund by 23.6% in the fourth quarter. Morgan Stanley now owns 267,795 shares of the financial services provider’s stock worth $2,865,000 after purchasing an additional 51,129 shares during the last quarter.

About Nuveen New York Quality Municipal Income Fund

(Get Free Report)

Nuveen New York 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 New York. The fund invests in municipal bonds, with a rating of Baa or higher.

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