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Nuveen Quality Municipal Income Fund
NAD

256 hedge funds and large institutions have $700M invested in Nuveen Quality Municipal Income Fund in 2023 Q1 according to their latest regulatory filings, with 24 funds opening new positions, 95 increasing their positions, 61 reducing their positions, and 33 closing their positions.

New
Increased
Maintained
Reduced
Closed

56% more repeat investments, than reductions

Existing positions increased: 95 | Existing positions reduced: 61

29% more funds holding in top 10

Funds holding in top 10: 7 → 9 (+2)

1.13% more ownership

Funds ownership: 25.08% → 26.21% (+1.1%)

4% less funds holding

Funds holding: 267 → 256 (-11)

27% less first-time investments, than exits

New positions opened: 24 | Existing positions closed: 33

68% less capital invested

Capital invested by funds: $2.2B → $700M (-$1.5B)

Holders
256
Holders Change
-11
Holders Change %
-4.12%
% of All Funds
4.08%
Holding in Top 10
9
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+28.57%
% of All Funds
0.14%
New
24
Increased
95
Reduced
61
Closed
33
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$26.7M
2
Morgan Stanley
Morgan Stanley
New York
+$6.25M
3
SIA
Sit Investment Associates
Minnesota
+$5.44M
4
HWAM
Hennion & Walsh Asset Management
New Jersey
+$3.98M
5
PCM
Penserra Capital Management
California
+$3.44M

Top Sellers

Rank Fund Capital Flow
1
RCM
Rivernorth Capital Management
Florida
-$18.2M
2
GC
Guggenheim Capital
Illinois
-$10.2M
3
WAM
Weiss Asset Management
Massachusetts
-$3.59M
4
UBS Group
UBS Group
Switzerland
-$2.52M
5
MSL
Mackay Shields LLC
New York
-$2.22M
Name Holding Trade Value Shares
Change 		Change in
Stake
CA
26
Cornerstone Advisory
Maryland
$3.62M +$56.6K +4,892 +2%
Allianz Asset Management
27
Allianz Asset Management
Germany
$3.47M – – –
Stifel Financial
28
Stifel Financial
Missouri
$3.43M +$502K +43,356 +17%
PCM
29
Penserra Capital Management
California
$3.43M +$3.44M +297,369 New
DFG
30
Delphi Financial Group
Delaware
$3.39M -$1.17M -101,204 -26%
EBWM
31
Eagle Bluffs Wealth Management
Missouri
$3.39M +$451K +38,957 +15%
AA
32
AQR Arbitrage
Connecticut
$3.36M +$1.61M +138,968 +91%
Northwestern Mutual Wealth Management
33
Northwestern Mutual Wealth Management
Wisconsin
$3.32M +$647K +55,900 +24%
Cohen & Steers
34
Cohen & Steers
New York
$3.19M -$310K -26,763 -9%
XF
35
XML Financial
Maryland
$3.19M +$269K +23,283 +9%
RJFSA
36
Raymond James Financial Services Advisors
Florida
$3.01M +$214K +18,502 +8%
TIM
37
Tortoise Investment Management
New York
$2.94M +$2.78M +240,558 +1,638%
LPL Financial
38
LPL Financial
California
$2.86M -$154K -13,351 -5%
1W
39
1776 Wealth
Georgia
$2.8M +$6.63K +573 +0.2%
CPC
40
Congress Park Capital
New York
$2.76M -$555K -48,000 -17%
CAN
41
Cetera Advisor Networks
California
$2.76M +$14K +1,210 +0.5%
Cambridge Investment Research Advisors
42
Cambridge Investment Research Advisors
Iowa
$2.75M -$414K -35,796 -13%
Ameriprise
43
Ameriprise
Minnesota
$2.51M -$85.2K -7,365 -3%
CCWA
44
CLA (CliftonLarsonAllen) Wealth Advisors
Minnesota
$2.45M +$41.9K +3,621 +2%
USCWA
45
U.S. Capital Wealth Advisors
Texas
$2.43M +$3.55K +307 +0.1%
JWA
46
JFS Wealth Advisors
Pennsylvania
$2.39M +$660 +57 +0%
Janney Montgomery Scott
47
Janney Montgomery Scott
Pennsylvania
$2.29M +$34.3K +2,962 +2%
COLIM
48
City of London Investment Management
United Kingdom
$2.28M -$750K -64,849 -25%
BAM
49
Belpointe Asset Management
Nevada
$2.23M -$114K -9,812 -5%
MA
50
Mutual Advisors
Nebraska
$2.17M +$83.9K +7,253 +4%
1
2
3 4 5

NAD Hedge Fund Activity: Q1 2023 in Review

256 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in Nuveen Quality Municipal Income Fund (NAD) for Q1 2023, worth a combined $700M — down 68% from $2.2B a quarter earlier.

Sellers outnumbered buyers: 33 funds closed out of NAD and 24 opened new positions — a net loss of 9 holders — while 61 trimmed existing stakes and 95 added.

The largest buyer was Karpus Investment Management, adding an estimated $26.7M. The largest seller was Rivernorth Capital Management, cutting an estimated $18.2M.

  • 256 institutional investors held Nuveen Quality Municipal Income Fund (NAD) as of Q1 2023, down from 267 in Q4 2022.
  • Funds reported $700M of Nuveen Quality Municipal Income Fund stock for Q1 2023, down 68% quarter-over-quarter.
  • 24 funds opened new Nuveen Quality Municipal Income Fund positions in Q1 2023 and 33 closed out, a net change of -9 holders.
  • The largest Nuveen Quality Municipal Income Fund buyer in Q1 2023 was Karpus Investment Management, an estimated $26.7M added.
  • The largest Nuveen Quality Municipal Income Fund seller in Q1 2023 was Rivernorth Capital Management, an estimated $18.2M sold.

Based on aggregated 13F filings for Q1 2023.