Nuveen Fund Redeems Significant Preferred Shares from Wells Fargo

summarizeSummary

Nuveen Quality Municipal Income Fund redeemed 500 MuniFund Preferred Shares from Wells Fargo, reducing its outstanding preferred stock and fixed dividend payments.

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• Preferred Share Redemption

  Nuveen Quality Municipal Income Fund redeemed 500 MuniFund Preferred Shares, Series A, from Wells Fargo Municipal Capital Strategies, LLC on March 11, 2026.

• Reduced Fixed Obligations

  This redemption reduces the fund's outstanding preferred stock and associated fixed dividend payments, improving its capital structure.

• Wells Fargo Ownership Update

  Following the redemption, Wells Fargo & Company and its subsidiary now beneficially own 2,988 MuniFund Preferred Shares, representing 18.64% of the class.

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This Schedule 13D/A reports that Nuveen Quality Municipal Income Fund redeemed 500 shares of its MuniFund Preferred Shares, Series A, from Wells Fargo Municipal Capital Strategies, LLC on March 11, 2026. This action reduces the fund's outstanding preferred stock by approximately 3.12% of that class, which is a positive capital management move. The redemption decreases the fund's leverage and fixed dividend obligations, potentially benefiting common shareholders. Following this transaction, Wells Fargo's beneficial ownership in this class of preferred shares is now 18.64%.