Karpus Management, Inc. recently announced the acquisition of new stake in Nuveen Ohio Quality Municipal Income Fund (NYSE:NUO). The institutional investor has increased its shareholding in the Financial company by 137.58% to 2.34 million shares with purchase of 1.36 million shares. This fresh investment now brings its stake to 12.84% valued currently at $29.74 million. In addition, UBS Financial Services, Inc. raised its holdings by 33423.0 to 0.19 million shares. And IFP Advisors, Inc. has lifted its position by 413.68% or 0.11 million shares – to 0.14 million shares.
With over 0.12 million Nuveen Ohio Quality Municipal Income Fund (NUO) shares trading Tuesday and a closing price of $13.12 on the day, the dollar volume was approximately $1.64 million. The shares have shown a positive half year performance of 1.52% and its price on 01/24/23 gained nearly 0.15%. Currently, there are 18.25M common shares owned by the public and among those 18.24M shares have been available to trade.
Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 14,060 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Nuveen Ohio Quality Municipal Income Fund are Saba Closed End Funds ETF, AQR Diversified Arbitrage Fund, and Guggenheim Multi Hedge Strategies. Saba Closed End Funds ETF owns 53972.0 shares of the company’s stock, all valued at over $0.68 million. AQR Diversified Arbitrage Fund sold 426.0 shares to see its total holdings shrink to 28949.0 shares valued at over $0.37 million and representing 0.16% of the shares outstanding. Guggenheim Multi Hedge Strategies sold 2348.0 shares to bring its total holdings to over 1987.0 shares at a value of $25215.0. Guggenheim Multi Hedge Strategies now owns shares totaling to 0.01% of the shares outstanding.
However, the script later moved the day high at 13.16, up 0.15%. The company’s stock has a 5-day price change of 1.31% and 10.58% over the past three months. NUO shares are trading 3.39% year to date (YTD), with the 12-month market performance down to -13.19% lower. It has a 12-month low price of $11.55 and touched a high of $15.33 over the same period. NUO has an average intraday trading volume of 62.56K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.98%, 3.30%, and 3.81% respectively.
Institutional ownership of Nuveen Ohio Quality Municipal Income Fund (NYSE: NUO) shares accounts for 34.31% of the company’s 18.25M shares outstanding. Mutual fund holders own 0.47%, while other institutional holders and individual stakeholders account for 31.30% and 0.25% respectively.
It has a market capitalization of $239.50M. The earnings-per-share (ttm) stands at -$0.17. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.67% over the week and 0.82% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.