Form 4: Wells Fargo Entities Adjust Ownership of Nuveen Quality Municipal Income Fund (NAD) Preferred Shares

Wells Fargo Bank, National Association transferred 4,338 MuniFund Preferred Shares of Nuveen Quality Municipal Income Fund to Wells Fargo Municipal Capital Strategies, LLC.

Summary

• Wells Fargo Bank, National Association (WFBNA) transferred 4,338 MuniFund Preferred Shares (MFP Shares) of Nuveen Quality Municipal Income Fund (NAD) to Wells Fargo Municipal Capital Strategies, LLC (Capital Strategies) on May 3, 2024.
• The purchase price for the transfer was $100,000 per share.
• Following the transaction, Capital Strategies now beneficially owns all 4,338 MFP Shares.
• Wells Fargo & Company holds an indirect interest in these securities through its ownership of Capital Strategies and WFBNA.
• The filing indicates that none of the reporting persons are admitting to acting as a group for the purpose of acquiring, holding, or disposing of securities of the Issuer.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing indicating a transfer of assets within Wells Fargo. It doesn't convey any particularly positive or negative sentiment.

Industry Context

Form 4 filings are standard practice when there are changes in beneficial ownership of a company's securities, particularly for directors, officers, and principal stockholders. This filing indicates an internal transfer of assets within the Wells Fargo organization.

Related Party Transactions

• The transfer of MuniFund Preferred Shares from Wells Fargo Bank, National Association to Wells Fargo Municipal Capital Strategies, LLC is a related party transaction.

Stakeholder Impact

• The transfer of shares is unlikely to have a significant impact on external stakeholders, as it is an internal transaction within the Wells Fargo organization.

Key Dates