Nuveen Minnesota Quality Municipal Income Fund (NYSE: NMS) has announced a monthly dividend of $0.0665 per share, scheduled for payment on February 2, 2024. Shareholders of record on January 15, 2024 will be eligible for this dividend, which reflects an annualized yield of 6.8%.
Trading activity for the fund showed a modest increase, with shares rising 0.3% to $11.82 during midday trading on the announcement day. The trading volume reached 3,001 shares, which is significantly lower than the average of 10,199 shares. Over the past year, the fund has seen a low of $11.07 and a high of $12.60. Its fifty-day and two-hundred-day simple moving averages stand at $11.90 and $11.67, respectively.
Recent Institutional Activity
Several institutional investors and hedge funds have recently adjusted their positions in Nuveen Minnesota Quality Municipal Income Fund. For example, Access Financial Services Inc. acquired a new stake valued at approximately $277,000 during the third quarter. Similarly, Raymond James Financial Inc. increased its holdings by 73.4% in the same period, owning a total of 33,077 shares worth around $394,000 after adding 14,000 shares.
Wolverine Asset Management LLC also entered the fund’s stock during the second quarter, acquiring a stake valued at $139,000. Osaic Holdings Inc. boosted its position by 20.3%, now owning 12,797 shares worth $146,000 after purchasing an additional 2,157 shares. Redhawk Wealth Advisors Inc. increased its stake by 7.0%, bringing its total to 19,155 shares valued at $228,000.
About the Fund
Nuveen Minnesota Quality Municipal Income Fund is a closed-end investment company managed by Nuveen, a global asset management firm specializing in fixed income and tax-advantaged investment strategies. The fund aims to provide current income that is exempt from federal and Minnesota state personal income taxes by investing primarily in municipal securities issued by entities serving Minnesota. Its portfolio focuses on investment-grade general obligation and revenue bonds that fund vital public projects, including schools and transportation infrastructure across the state.
This declaration of dividend payment illustrates the fund’s commitment to delivering returns to its investors while supporting the public sector through its investments. It remains a significant option for those seeking income through municipal investments.
