Nuveen Intermediate Duration Quality Municipal Term Fund (NYSE:NIQ) Sees Large Increase in Short Interest

Nuveen Intermediate Duration Quality Municipal Term Fund (NYSE:NIQ) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 9,800 shares, an increase of 151.3% from the September 15th total of 3,900 shares. Based on an average daily volume of 19,100 shares, the short-interest ratio is currently 0.5 days.

Shares of NIQ stock traded up $0.13 on Thursday, hitting $14.84. The stock had a trading volume of 38,445 shares, compared to its average volume of 22,218. The business has a 50 day moving average of $14.87 and a 200 day moving average of $14.81. Nuveen Intermediate Duration Quality Municipal Term Fund has a 12-month low of $14.09 and a 12-month high of $15.70.

The company also recently announced a monthly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 15th will be issued a $0.043 dividend. The ex-dividend date is Thursday, October 14th. This represents a $0.52 annualized dividend and a dividend yield of 3.48%.

Several hedge funds have recently made changes to their positions in NIQ. Royal Bank of Canada grew its position in Nuveen Intermediate Duration Quality Municipal Term Fund by 3.1% during the second quarter. Royal Bank of Canada now owns 52,673 shares of the company’s stock valued at $790,000 after buying an additional 1,583 shares during the period. Koshinski Asset Management Inc. bought a new position in Nuveen Intermediate Duration Quality Municipal Term Fund during the third quarter valued at about $102,000. First Trust Advisors LP grew its position in Nuveen Intermediate Duration Quality Municipal Term Fund by 5.7% during the second quarter. First Trust Advisors LP now owns 28,364 shares of the company’s stock valued at $425,000 after buying an additional 1,533 shares during the period. LPL Financial LLC grew its position in Nuveen Intermediate Duration Quality Municipal Term Fund by 9.4% during the second quarter. LPL Financial LLC now owns 34,800 shares of the company’s stock valued at $522,000 after buying an additional 3,000 shares during the period. Finally, Van ECK Associates Corp grew its position in Nuveen Intermediate Duration Quality Municipal Term Fund by 33.9% during the second quarter. Van ECK Associates Corp now owns 61,320 shares of the company’s stock valued at $919,000 after buying an additional 15,532 shares during the period.

About Nuveen Intermediate Duration Quality Municipal Term Fund

Nuveen Intermediate Duration Quality Municipal Term Fund is a close 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 into public fixed income markets of the United States. The fund seeks to invest in stocks of companies that are operating across diversified sectors.

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