Nuveen Quality Municipal Income Fund
NAD
New York Stock Exchange- -
USD
- -
- -
- -
- -
(- -)
Recent
price
- -
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- Nuveen Quality Municipal Income Fund (NYSE: NAD) is a diversified closed-end management investment company that seeks to provide current income exempt from regular federal income tax and to enhance portfolio value relative to the municipal bond market. The Fund invests primarily in a portfolio of tax-exempt municipal securities that its investment adviser, Nuveen Fund Advisors, LLC, believes are underrated, undervalued, or represent undervalued municipal market sectors; at least 80% of its assets are allocated to municipal securities and related investments exempt from federal income taxes, with up to 20% in securities subject to the federal alternative minimum tax and up to 15% in inverse floating rate securities. By investment policy, the Fund may allocate up to 35% of its managed assets to municipal securities rated BBB or below (or of comparable quality) at the time of investment; it employs leverage to enhance returns and benchmarks performance against the Standard & Poor's Municipal Bond Index. The Fund focuses on investment-grade municipal securities with an average maturity of around 18 years, utilizing fundamental analysis and a bottom-up approach to select undervalued bonds issued by states, municipalities, and related entities across the United States. It targets income-focused investors seeking tax-advantaged yields from the U.S. fixed income markets, particularly municipal bonds; the portfolio emphasizes high-quality, longer-duration securities to generate stable tax-free income while pursuing capital appreciation opportunities. Nuveen Quality Municipal Income Fund was formed on January 15, 1999, and is headquartered at 333 West Wacker Drive, Chicago, Illinois. The Fund was formerly known as Nuveen Dividend Advantage Municipal Fund; in April 2021, it completed a reorganization through the merger of Nuveen Maryland Quality Municipal Income Fund (NYSE: NMY) into NAD, enhancing its scale and operational efficiency. In August 2023, the Boards of Trustees approved a proposed merger of Nuveen New Jersey Quality Municipal Income Fund (NYSE: NXJ) into NAD to create a larger fund with lower expenses and increased liquidity, subject to shareholder approval. The Fund is co-managed by Nuveen Fund Advisors, LLC and Nuveen Asset Management, LLC, with key portfolio managers including Thomas C. Spalding Jr., CFA, and Christopher L. Drahn, CFA.