Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) Short Interest Up 47.7% in May

Nuveen Massachusetts Quality Municipal Income Fund (NYSE:NMT) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 16,400 shares, an increase of 47.7% from the May 15th total of 11,100 shares. Based on an average daily trading volume, of 15,200 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Nuveen Massachusetts Quality Municipal Income Fund during the 1st quarter valued at about $39,000. Herold Advisors Inc. acquired a new stake in Nuveen Massachusetts Quality Municipal Income Fund in the fourth quarter valued at approximately $122,000. Eagle Bay Advisors LLC lifted its stake in Nuveen Massachusetts Quality Municipal Income Fund by 34.0% in the first quarter. Eagle Bay Advisors LLC now owns 13,403 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 3,400 shares during the last quarter. PFG Investments LLC bought a new stake in Nuveen Massachusetts Quality Municipal Income Fund in the first quarter worth approximately $160,000. Finally, Twin Focus Capital Partners LLC increased its stake in shares of Nuveen Massachusetts Quality Municipal Income Fund by 26.0% during the 4th quarter. Twin Focus Capital Partners LLC now owns 19,901 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 4,103 shares during the last quarter. 16.55% of the stock is owned by institutional investors and hedge funds.

Nuveen Massachusetts Quality Municipal Income Fund Stock Down 1.0 %

NMT stock traded down $0.11 during midday trading on Friday, reaching $11.00. The company had a trading volume of 11,786 shares, compared to its average volume of 11,864. The company has a 50 day moving average of $10.66 and a two-hundred day moving average of $10.63. Nuveen Massachusetts Quality Municipal Income Fund has a 1 year low of $9.05 and a 1 year high of $11.18.

Nuveen Massachusetts Quality Municipal Income Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.071 per share. This is a boost from Nuveen Massachusetts Quality Municipal Income Fund’s previous monthly dividend of $0.04. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.85 dividend on an annualized basis and a yield of 7.75%.

About Nuveen Massachusetts Quality Municipal Income Fund

Nuveen Massachusetts 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 Massachusetts, United States. The fund primarily invests in undervalued municipal securities and other related investments which are exempt from regular federal and Massachusetts income taxes.