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

Wells Fargo Bank, National Association, 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, National Association disposed of 550 MuniFund Preferred Shares due to a redemption by the issuer.
• The redemption price was $100,314.44 per share, including a liquidation preference of $100,000.00 and accrued dividends of $314.44.
• Following the transaction, Wells Fargo & Company indirectly owns 4,758 shares through its subsidiary.
• Both Wells Fargo & Company and Wells Fargo Bank, National Association have signed a joint filing agreement.

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 there are changes in beneficial ownership of a company's securities by its directors, officers, or principal stockholders. This filing indicates a change in Wells Fargo's holdings in Nuveen Quality Municipal Income Fund.

Stakeholder Impact

• The redemption of shares may have a minor impact on the fund's capital structure.

Key Dates