NUO: Why I'm More Cautious On This Closed-End Muni Fund [Seeking Alpha]
Nuveen Ohio Quality Municipal Income Fund (NUO)
US:NYSE Investor Relations:
nuveen.com/cef/product/overview.aspx?fundcode=nuo
Company Research
Source: Seeking Alpha
Introduction I first wrote about Nuveen Ohio Quality Municipal Income Fund (NYSE: NUO Leveraged Municipal Bond Funds - Expect Dividend Growth Since then, the fund did raise its distribution as I predicted, from 4.18 to 4.40 cents per month beginning with the 11/1/2019 distribution. That represents a 5.26% increase in income and gives the fund a 3.36% yield based on a $15.70 share price. The share price has appreciated in line with the distribution increase so that the yield on the fund is very close to where it was when I wrote the last article. There were other factors driving the distribution increase than the ones I outlined in June, however. First, the fund was targeted by an activist shareholder, Saba Capital Management LP, who tried to use the fund's expense ratio and discount to net asset value to persuade shareholders to change fund management. This proxy battle ultimately failed, but may have prompted the existing manager to take additional risk by buying out-of-state bonds t
Show less
Read more
Impact Snapshot
Event Time:
NUO
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
NUO alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
NUO alerts
High impacting Nuveen Ohio Quality Municipal Income Fund news events
Weekly update
A roundup of the hottest topics