What is Nuveen Ohio Quality Municipal Income Fund's Symbol?
Paul RyanWhat is Nuveen Ohio Quality Municipal Income Fund's Symbol?
Nuveen Ohio Quality Municipal Income Fund is a closed-end fund that invests in municipal bonds issued in Ohio. The fund seeks to provide investors with a high level of income exempt from federal and Ohio state income taxes. The fund's symbol on the New York Stock Exchange is NUO.
Overview of Nuveen Ohio Quality Municipal Income Fund
Nuveen Ohio Quality Municipal Income Fund was launched in 1993 and is managed by Nuveen Asset Management LLC. The fund invests in a diversified portfolio of investment-grade municipal bonds issued in Ohio. The fund's objective is to provide investors with a high level of income exempt from federal and Ohio state income taxes.
Investment Strategy
The fund's investment strategy is to invest in municipal bonds that are rated investment-grade or higher by a nationally recognized rating agency. The fund invests primarily in general obligation bonds, revenue bonds, and special tax bonds. The fund may also invest in other types of municipal securities, including variable rate demand notes and tender option bonds. The fund may use leverage to enhance returns.
Performance
Over the past 5 years, Nuveen Ohio Quality Municipal Income Fund has returned an average of 4.76% per year. The fund's distribution rate is currently 4.57%. The fund's net asset value (NAV) has been relatively stable over the past 5 years, with a maximum drawdown of less than 6%.
Risks and Considerations
Investing in Nuveen Ohio Quality Municipal Income Fund involves risks, including the risk of default by issuers of municipal securities, interest rate risk, credit risk, and market risk. In addition, the fund's use of leverage may amplify these risks. Investors should carefully consider their investment objectives, risk tolerance, and time horizon before investing in the fund.
Investment Considerations
Nuveen Ohio Quality Municipal Income Fund may be suitable for investors seeking tax-exempt income from Ohio municipal bonds. The fund's relatively stable NAV and distribution rate may be attractive to income-oriented investors. However, investors should be aware of the risks associated with investing in municipal securities and the fund's use of leverage.
Conclusion
Nuveen Ohio Quality Municipal Income Fund is a closed-end fund that invests in municipal bonds issued in Ohio. The fund seeks to provide investors with a high level of income exempt from federal and Ohio state income taxes. Investors should carefully consider the risks and considerations associated with investing in the fund before making an investment decision.
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