Form 4: Wells Fargo Disposes of MuniFund Preferred Shares in Nuveen Quality Municipal Income Fund

Wells Fargo Bank, N.A., a subsidiary of Wells Fargo & Company, disposed of 420 MuniFund Preferred Shares of Nuveen Quality Municipal Income Fund due to a redemption by the issuer.

Summary

• Wells Fargo & Company, along with its subsidiary Wells Fargo Bank, National Association, filed a Form 4 with the SEC.
• The filing reports the disposition of 420 MuniFund Preferred Shares (MFP Shares) of Nuveen Quality Municipal Income Fund (NAD) by Wells Fargo Bank, N.A.
• The shares were disposed of due to a redemption by the issuer at a price of $100,352.27 per share, which includes a liquidation preference of $100,000.00 and accrued dividends of $352.27.
• Following the transaction, Wells Fargo & Company indirectly owns 4,338 MFP Shares through its subsidiary.
• The filing includes a joint filing agreement and joint filer information for Wells Fargo Bank, National Association.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a company buy or sell the company's securities. This filing indicates a change in Wells Fargo's holdings in Nuveen Quality Municipal Income Fund.

Stakeholder Impact

• The disposition of shares may have a minor impact on the fund's share price, but the effect is likely to be minimal given the size of the transaction relative to the fund's overall market capitalization.

Key Dates