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 550 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 regarding changes in beneficial ownership of Nuveen Quality Municipal Income Fund shares.
• On March 26, 2024, Wells Fargo Bank, N.A. disposed of 550 MuniFund Preferred Shares (MFP Shares) of the Issuer.
• The disposal was a result of a redemption by Nuveen Quality Municipal Income Fund.
• The redemption price was $100,314.44 per share, including a liquidation preference of $100,000.00 per share and accrued dividends of $314.44 per share.
• Following the transaction, Wells Fargo & Company still indirectly owns 4,758 shares through its subsidiary.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to a share redemption, indicating a neutral sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC when there are changes in beneficial ownership of a company's securities by insiders, providing transparency to the market.

Stakeholder Impact

• The redemption may slightly reduce the outstanding preferred shares of Nuveen Quality Municipal Income Fund.

Key Dates