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Nuveen Arizona Quality Municipal Income Fund (NAZ)

Financial Services | Asset Management | Chicago, United States | NYSE
12.35 USD +0.03 (0.203%) ⇧ (Aug. 28, 2026, 4 p.m. EDT)
After hours: 12.35
Short-term:★★⯪☆☆Long-term:★☆☆☆☆Dividends:★★☆☆☆
Hot Take ↕ | Aug. 22, 2026, 5:49 a.m. EDT

The immediate outlook is flat due to a severe disconnect between the fund's reported profitability and its cash reality. While the company reports healthy operating margins, the negative operating cash flow indicates that earnings are not converting to liquid capital, a critical flaw for an income vehicle. This liquidity strain is forcing the fund to slash its quarterly distributions, dropping payments from $0.073 to $0.062 within a single year, signaling that the current yield is unsustainable and likely eroding shareholder value. Long-term, the investment case is severely compromised by a decade-long structural decline; despite a recent uptick in price, the asset has lost nearly 29% of its value over the last nine years, with four of the last five years delivering negative returns. This persistent underperformance suggests the market has permanently downgraded the quality of the municipal bonds held within the portfolio. Consequently, the high headline yield of 6% is a trap—a compensation for the deteriorating business and the risk of further capital destruction rather than a reliable income stream.
Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
AutoARIMA ✓0.017331
AutoETS0.017377
AutoTheta0.018596
MSTL0.018773

Forecast horizon: 45 days | Selected: AutoARIMA

Forecast Reliability
Score 66%
H-stat 7.51
Ljung-Box p 0.000
Jarque-Bera p 0.347
Excess Kurtosis -0.96
Attribute Value
Sector Financial Services
Ex Dividend Date 2026-08-13
Last Dividend Date 2026-08-13
Revenue per Share 0.757
Market Cap 158,437,280
Trailing P/E 22.05
Beta 0.58
Profit Margins 74.65%
Website https://www.nuveen.com/CEF/Product/Overview.aspx?FundCode=NAZ&refsrc=vu_nuveen.com/naz

Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
0.50% 6.36% 6.25% 5.32%
Dividend History
Date Dividend Yield %
2026-08-14 0.062 0.499195
2026-07-15 0.062 0.491284
2026-06-15 0.062 0.486275
2026-05-15 0.066 0.513619
2026-04-15 0.066 0.515625
2026-03-13 0.066 0.527157
2026-02-13 0.066 0.546358
2026-01-15 0.066 0.549542
2025-12-15 0.066 0.554622
2025-11-14 0.066 0.558848
2025-10-15 0.066 0.552301
2025-09-15 0.066 0.565068
2025-08-15 0.073 0.617597
2025-07-15 0.073 0.617597
2025-06-13 0.073 0.630397
2025-05-15 0.073 0.607827
2025-04-15 0.073 0.623932
2025-03-14 0.073 0.605809
2025-02-14 0.073 0.591093
2025-01-15 0.073 0.604305
2024-12-13 0.073 0.606816
2024-11-15 0.073 0.607321
2024-10-15 0.073 0.616554
2024-09-13 0.073 0.616554
2024-08-15 0.073 0.626609
2024-07-15 0.073 0.637555
2024-06-14 0.073 0.649466
2024-05-14 0.043 0.397780
2024-04-12 0.043 0.401494
2024-03-14 0.043 0.392694
2024-02-14 0.035 0.323176
2024-01-11 0.035 0.323176
2023-12-14 0.035 0.323774
2023-11-14 0.035 0.349301
2023-10-12 0.031 0.325289
2023-09-14 0.031 0.306324
2023-08-14 0.031 0.295238
2023-07-13 0.031 0.288641
2023-06-14 0.033 0.310442
2023-05-12 0.033 0.305556
2023-04-13 0.033 0.294906
2023-03-14 0.033 0.299184
2023-02-14 0.033 0.278246
2023-01-12 0.033 0.279188
2022-12-14 0.041 0.356832
2022-11-14 0.041 0.350128
2022-10-13 0.041 0.307116
2022-09-14 0.046 0.333817
2022-08-12 0.046 0.317241
2022-07-14 0.046 0.355487
2022-06-14 0.050 0.384615
2022-05-12 0.050 0.389408
2022-04-13 0.050 0.390625
2022-03-14 0.050 0.371747
2022-02-14 0.050 0.358938
2022-01-13 0.050 0.320513
2021-12-14 0.050 0.316456
2021-11-12 0.050 0.313873
2021-10-14 0.050 0.311526
2021-09-14 0.050 0.316456
2021-08-12 0.050 0.313283
2021-07-14 0.050 0.314268
2021-06-14 0.050 0.313676
2021-05-13 0.050 0.326797
2021-04-14 0.050 0.327869
2021-03-12 0.050 0.328947
2021-02-11 0.050 0.319489
2021-01-14 0.050 0.333111
2020-12-14 0.050 0.332005
2020-11-12 0.050 0.333333
2020-10-14 0.050 0.336247
2020-09-14 0.048 0.328093
2020-08-13 0.048 0.334962
2020-07-14 0.048 0.355030
2020-06-12 0.048 0.357675
2020-05-14 0.044 0.354267
2020-04-14 0.044 0.350040
2020-03-12 0.044 0.352000
2020-02-13 0.044 0.313390
2020-01-14 0.044 0.323767
2019-12-12 0.044 0.325926
2019-11-14 0.044 0.330579
2019-10-11 0.044 0.324006
2019-09-12 0.044 0.332577
2019-08-14 0.044 0.323054
2019-07-12 0.044 0.335366
2019-06-13 0.044 0.339244
2019-05-14 0.042 0.325581
2019-04-12 0.042 0.330709
2019-03-14 0.042 0.336000
2019-02-14 0.042 0.339257
2019-01-14 0.042 0.343418
2018-12-13 0.042 0.356537
2018-11-14 0.044 0.370682
2018-10-12 0.044 0.385289
2018-09-13 0.044 0.364842
2018-08-14 0.044 0.352000
2018-07-12 0.044 0.349206
2018-06-14 0.044 0.348101
2018-05-14 0.044 0.345640
2018-04-12 0.044 0.332326
2018-03-14 0.044 0.317003
2018-02-14 0.050 0.366300
2018-01-11 0.050 0.353357
2017-12-14 0.050 0.341297
2017-11-22 0.009 0.061475
2017-11-14 0.054 0.367347
2017-10-12 0.054 0.369357
2017-09-14 0.054 0.368349
2017-08-11 0.054 0.365606
2017-07-12 0.054 0.367847
2017-06-13 0.054 0.376569
2017-05-11 0.054 0.380282
2017-04-11 0.054 0.386543
2017-03-13 0.054 0.401189
2017-02-13 0.057 0.403112
2017-01-11 0.057 0.401975
2016-12-13 0.057 0.405117
2016-11-17 0.004 0.029091
2016-11-10 0.060 0.419874
2016-10-12 0.060 0.376412
2016-09-13 0.060 0.357995
2016-08-11 0.067 0.401198
2016-07-13 0.067 0.392732
2016-06-13 0.067 0.415375
2016-05-11 0.067 0.412562
2016-04-13 0.067 0.420326
2016-03-11 0.067 0.425127
2016-02-10 0.067 0.414861
2016-01-13 0.067 0.439344
2015-12-11 0.067 0.453009
2015-11-10 0.067 0.450269
2015-10-13 0.067 0.445775
2015-09-11 0.067 0.455782
2015-08-12 0.067 0.449966
2015-07-13 0.067 0.451178
2015-06-11 0.067 0.461115
2015-05-13 0.067 0.457963
2015-04-13 0.067 0.460481
2015-03-11 0.067 0.455163
2015-02-11 0.067 0.465925
2015-01-13 0.067 0.457650
2014-12-11 0.067 0.471499
2014-11-12 0.067 0.475177
2014-10-10 0.067 0.484454
2014-09-11 0.067 0.480631
2014-08-13 0.067 0.488338
2014-07-11 0.067 0.492647
2014-06-11 0.066 0.482456
2014-05-13 0.066 0.476534
2014-04-11 0.066 0.513219
2014-03-12 0.066 0.517647
2014-02-12 0.066 0.521739
2014-01-13 0.066 0.529695
2013-12-11 0.064 0.540084
2013-11-18 0.002 0.016570
2013-11-13 0.064 0.527617
2013-10-10 0.064 0.524590
2013-09-11 0.064 0.546075
2013-08-13 0.064 0.535117
2013-07-11 0.064 0.495740
2013-06-12 0.064 0.490421
2013-05-13 0.064 0.439259
2013-04-03 0.064 0.432432
2013-03-13 0.064 0.423280
2013-02-13 0.064 0.397516
2013-01-11 0.064 0.406091
2012-12-12 0.064 0.406866
2012-11-13 0.064 0.413170
2012-10-11 0.064 0.412637
2012-09-12 0.064 0.404807
2012-08-13 0.064 0.413972
2012-07-11 0.064 0.409207
2012-06-13 0.064 0.434193
2012-05-11 0.064 0.437757
2012-04-11 0.064 0.438056
2012-03-13 0.064 0.430108
2012-02-13 0.064 0.435671
2012-01-11 0.064 0.443828
2011-12-13 0.064 0.464441
2011-11-10 0.064 0.467495
2011-10-12 0.064 0.470935
2011-09-13 0.064 0.482655
2011-08-11 0.063 0.498418
2011-07-13 0.063 0.482759
2011-06-13 0.063 0.500795
2011-05-11 0.063 0.511779
2011-04-13 0.063 0.519373
2011-03-11 0.063 0.511779
2011-02-11 0.063 0.509709
2011-01-12 0.063 0.515127
2010-12-13 0.063 0.486862
2010-11-10 0.063 0.427989
2010-10-13 0.063 0.443038
2010-09-13 0.063 0.450000
2010-08-11 0.063 0.465632
2010-07-13 0.063 0.482759
2010-06-11 0.063 0.477635
2010-05-12 0.059 0.448669
2010-04-13 0.059 0.447988
2010-03-11 0.059 0.436391
2010-02-10 0.059 0.433824
2010-01-13 0.059 0.424155
2009-12-11 0.059 0.455951
2009-11-10 0.057 0.438799
2009-10-13 0.057 0.434120
2009-09-11 0.057 0.442547
2009-08-12 0.054 0.430279
2009-07-13 0.054 0.425197
2009-06-11 0.054 0.452640
2009-05-13 0.054 0.451883
2009-04-13 0.053 0.478771
2009-03-11 0.053 0.500945
2009-02-11 0.053 0.473214
2009-01-13 0.053 0.493023
2008-12-11 0.053 0.566845
2008-11-12 0.053 0.489381
2008-10-10 0.053 0.576087
2008-09-11 0.053 0.414386
2008-08-13 0.051 0.402526
2008-07-11 0.051 0.386950
2008-06-11 0.051 0.397816
2008-05-13 0.051 0.387538
2008-04-11 0.051 0.405728
2008-03-12 0.051 0.414972
2008-02-13 0.051 0.388720
2008-01-11 0.051 0.384615
2007-12-12 0.051 0.411622
2007-11-13 0.051 0.409639
2007-10-11 0.051 0.395043
2007-09-12 0.051 0.385779
2007-08-13 0.051 0.396887
2007-07-11 0.051 0.382596
2007-06-13 0.051 0.387538
2007-05-11 0.051 0.361702
2007-04-11 0.051 0.356394
2007-03-13 0.051 0.361446
2007-02-13 0.051 0.362989
2007-01-10 0.051 0.363507
2006-12-13 0.051 0.361702
2006-11-13 0.051 0.368764
2006-10-11 0.051 0.368764
2006-09-13 0.051 0.368497
2006-08-11 0.051 0.372807
2006-07-12 0.051 0.382022
2006-06-13 0.051 0.376384
2006-05-11 0.055 0.404412
2006-04-11 0.055 0.386507
2006-03-13 0.055 0.387870
2006-02-13 0.058 0.408739
2006-01-11 0.058 0.405594
2005-12-13 0.058 0.411639
2005-11-10 0.062 0.431454
2005-10-12 0.062 0.408432
2005-09-13 0.062 0.405494
2005-08-11 0.065 0.423729
2005-07-13 0.065 0.420984
2005-06-13 0.065 0.423453
2005-05-11 0.068 0.436737
2005-04-13 0.068 0.449141
2005-03-11 0.068 0.427673
2005-02-11 0.071 0.453384
2005-01-12 0.071 0.466491
2004-12-13 0.071 0.463144
2004-11-10 0.074 0.476497
2004-10-13 0.074 0.446860
2004-09-13 0.074 0.455946
2004-08-11 0.077 0.488269
2004-07-13 0.077 0.505913
2004-06-14 0.077 0.533241
2004-05-12 0.077 0.520270
2004-04-13 0.077 0.465257
2004-03-11 0.077 0.454814
2004-02-11 0.076 0.447849
2004-01-13 0.076 0.472343
2003-12-11 0.076 0.490639
2003-11-12 0.076 0.490006
2003-10-10 0.076 0.497708
2003-09-11 0.076 0.510753
2003-08-13 0.076 0.507682
2003-07-11 0.076 0.449704
2003-06-11 0.076 0.462006
2003-05-13 0.076 0.474111
2003-04-11 0.076 0.479495
2003-03-12 0.076 0.469426
2003-02-12 0.076 0.479193
2003-01-13 0.076 0.503645
2002-12-11 0.076 0.506667
2002-11-13 0.076 0.489691
2002-10-10 0.076 0.470006
2002-09-11 0.076 0.451575
2002-08-13 0.076 0.447059
2002-07-11 0.076 0.436782
2002-06-12 0.076 0.457831
2002-05-13 0.074 0.447130
2002-04-11 0.075 0.463535
2002-03-13 0.074 0.460199
2002-02-13 0.073 0.453980
2002-01-11 0.073 0.453698
2001-12-12 0.114 0.723810
2001-11-13 0.073 0.441354
2001-10-11 0.073 0.450617
2001-08-13 0.071 0.433985
2001-07-11 0.071 0.439356
2001-06-13 0.071 0.446822
2001-05-11 0.069 0.434235
2001-04-10 0.070 0.443038
2001-03-13 0.070 0.446713
2001-02-13 0.068 0.434783
2001-01-10 0.068 0.426667
2000-12-13 0.068 0.445902
2000-11-13 0.068 0.461017
2000-10-11 0.068 0.470996
2000-09-13 0.068 0.461017
2000-08-11 0.068 0.462979
2000-07-12 0.068 0.468966
2000-06-13 0.068 0.468966
2000-05-11 0.071 0.500441
2000-04-12 0.071 0.511712
2000-03-13 0.071 0.514027
2000-02-11 0.071 0.498246
2000-01-12 0.071 0.516364
1999-12-13 0.071 0.483404
1999-11-10 0.071 0.461789
1999-10-13 0.071 0.458065
1999-09-13 0.071 0.438610
1999-08-11 0.071 0.427068
1999-07-13 0.071 0.419188
1999-06-11 0.071 0.420741
1999-05-12 0.071 0.410108
1999-04-13 0.071 0.410108
1999-03-11 0.071 0.427068
1999-02-10 0.071 0.431939
1999-01-13 0.069 0.421374
1998-12-11 0.069 0.408889
1998-11-10 0.069 0.408889
1998-10-13 0.069 0.411940
1998-09-11 0.069 0.421374
1998-08-12 0.069 0.421374
1998-07-13 0.069 0.424615
1998-06-11 0.069 0.432941
1998-05-13 0.069 0.436364
1998-04-13 0.069 0.441600
1998-03-11 0.069 0.439841
1998-02-11 0.069 0.422989
1998-01-13 0.069 0.429572
1997-12-11 0.069 0.446964
1997-11-12 0.069 0.450612
1997-10-10 0.069 0.436364
1997-09-11 0.069 0.448780
1997-08-13 0.069 0.454321
1997-07-11 0.069 0.458091
1997-06-11 0.069 0.471795
1997-05-13 0.069 0.484211
1997-04-11 0.069 0.488496
1997-03-12 0.069 0.480000
1997-02-12 0.069 0.488496
1997-01-13 0.068 0.477193
1996-12-11 0.068 0.490090
1996-11-13 0.068 0.490090
1996-10-10 0.068 0.499083
1996-09-11 0.068 0.499083
1996-08-13 0.068 0.485714
1996-07-11 0.068 0.499083
1996-06-12 0.068 0.485714
1996-05-13 0.068 0.485714
1996-04-11 0.068 0.494545
1996-03-13 0.068 0.490090
1996-02-13 0.068 0.477193
1996-01-10 0.065 0.464286
1995-12-13 0.065 0.477064
1995-11-13 0.065 0.495238
1995-10-11 0.065 0.495238
1995-09-13 0.065 0.490566
1994-10-07 0.065 0.541667
1994-09-09 0.065 0.485981
1994-08-09 0.065 0.500000
1994-07-11 0.065 0.495238
1994-06-09 0.065 0.490566
1994-05-09 0.065 0.490566
1994-04-11 0.065 0.472727
1994-03-09 0.065 0.456140
1994-02-09 0.065 0.436975
1994-01-10 0.065 0.444444
1993-12-09 0.118 0.820870
1993-11-08 0.065 0.419355
1993-10-08 0.068 0.438710
1993-09-09 0.068 0.442276
1993-08-09 0.068 0.445902
1993-07-09 0.070 0.455285
1993-06-09 0.070 0.455285
1993-05-10 0.070 0.451613
1993-04-08 0.070 0.462810
1993-03-09 0.070 0.459016
1993-02-08 0.070 0.466667
Additional Data
dividendRate 0.74
dividendYield 6.04
exDividendDate 2026-08-14
trailingAnnualDividendRate 0.828
trailingAnnualDividendYield 0.06718053
lastDividendValue 0.062
lastDividendDate 2026-08-14
dividendDate 2019-02-01

Info Dump

Attribute Value
52 Week Change 0.035205364
Address1 333 West Wacker Drive
All Time High 17.8
All Time Low 8.18
Ask 12.4
Ask Size 1,000
Average Daily Volume10 Day 14,810
Average Daily Volume3 Month 20,782
Average Volume 20,782
Average Volume10Days 14,810
Beta 0.577
Bid 12.3
Bid Size 1,000
Book Value 11.908
City Chicago
Country United States
Crypto Tradeable 0
Currency USD
Current Price 12.35
Current Ratio 0.787
Custom Price Alert Confidence HIGH
Date Short Interest 1,786,665,600
Day High 12.4101
Day Low 12.2901
Dividend Date 1,548,979,200
Dividend Rate 0.74
Dividend Yield 6.04
Ebitda Margins 0.0
Enterprise To Revenue 25.389
Enterprise Value 246,258,880
Eps Trailing Twelve Months 0.56
Esg Populated 0
Ex Dividend Date 1,786,665,600
Exchange NYQ
Exchange Data Delayed By 0
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fax 312-917-6912
Fifty Day Average 12.4188
Fifty Day Average Change -0.06879997
Fifty Day Average Change Percent -0.0055399854
Fifty Two Week Change Percent 3.5205364
Fifty Two Week High 13.42
Fifty Two Week High Change -1.0699997
Fifty Two Week High Change Percent -0.07973172
Fifty Two Week Low 11.62
Fifty Two Week Low Change 0.7300005
Fifty Two Week Low Change Percent 0.06282276
Fifty Two Week Range 11.62 - 13.42
Financial Currency USD
First Trade Date Milliseconds 722,183,400,000
Five Year Avg Dividend Yield 5.07
Full Exchange Name NYSE
Fullday Change 0.0250006
Fullday Change Percent 0.202844
Fullday Price 12.35
Gmt Off Set Milliseconds -14,400,000
Gross Margins 1.0
Gross Profits 9,699,296
Has Pre Post Market Data 1
Held Percent Insiders 0.0
Held Percent Institutions 0.11644
Implied Shares Outstanding 12,828,929
Industry Asset Management
Industry Disp Asset Management
Industry Key asset-management
Language en-US
Last Dividend Date 1,786,665,600
Last Dividend Value 0.062
Last Fiscal Year End 1,756,598,400
Long Business Summary Nuveen Arizona Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc. The fund is managed by Nuveen Asset Management, LLC. It invests in the fixed income markets of Arizona. The fund invests in municipal securities and other related investments the income, exempt from regular federal and Arizona income taxes that are rated Baa or BBB or better and having an average maturity of 18.66 years. It employs fundamental analysis with bottom-up stock picking approach to create its portfolio. The fund benchmarks the performance of its portfolio against the Standard & Poor's (S&P) Arizona Municipal Bond Index and Standard & Poor's (S&P) National Municipal Bond Index. The fund was formerly known as Nuveen Arizona Premium Income Municipal Fund. Nuveen Arizona Quality Municipal Income Fund was formed on November 19, 1992 and is domiciled in the United States.
Long Name Nuveen Arizona Quality Municipal Income Fund
Market us_market
Market Cap 158,437,280
Market State CLOSED
Max Age 86,400
Message Board Id finmb_6157687
Most Recent Quarter 1,772,236,800
Net Income To Common 7,240,484
Next Fiscal Year End 1,788,134,400
Non Diluted Market Cap 158,116,549
Open 12.42
Operating Cashflow -3,980,142
Operating Margins 0.83585
Payout Ratio 1.4661
Phone 312-917-7700
Post Market Change 0.0
Post Market Change Percent 0.0
Post Market Price 12.35
Post Market Time 1,787,961,600
Previous Close 12.325
Price Hint 2
Price To Book 1.037118
Price To Sales Trailing12 Months 16.334927
Profit Margins 0.7465
Quick Ratio 0.787
Quote Source Name Delayed Quote
Quote Type EQUITY
Recommendation Key none
Region US
Regular Market Change 0.0250006
Regular Market Change Percent 0.202844
Regular Market Day High 12.4101
Regular Market Day Low 12.2901
Regular Market Day Range 12.2901 - 12.4101
Regular Market Open 12.42
Regular Market Previous Close 12.325
Regular Market Price 12.35
Regular Market Time 1,787,947,202
Regular Market Volume 12,266
Revenue Growth 0.023
Revenue Per Share 0.757
Sand P52 Week Change 0.20204377
Sector Financial Services
Sector Disp Financial Services
Sector Key financial-services
Shares Outstanding 12,828,929
Shares Percent Shares Out 0.0044
Shares Short 55,965
Shares Short Previous Month Date 1,784,073,600
Shares Short Prior Month 56,614
Short Name Nuveen Arizona Quality Municipa
Short Percent Of Float 0.0047999998
Short Ratio 2.3
Source Interval 15
State IL
Symbol NAZ
Total Cash 216,371
Total Cash Per Share 0.017
Total Debt 0
Total Revenue 9,699,296
Tradeable 0
Trailing Annual Dividend Rate 0.828
Trailing Annual Dividend Yield 0.06718053
Trailing Eps 0.56
Trailing P E 22.053572
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 12.3243
Two Hundred Day Average Change 0.02570057
Two Hundred Day Average Change Percent 0.0020853574
Type Disp Equity
Volume 12,266
Website https://www.nuveen.com/CEF/Product/Overview.aspx?FundCode=NAZ&refsrc=vu_nuveen.com/naz
Zip 60,606