WELLS FARGO & COMPANY/MN 4
4 · Nuveen Quality Municipal Income Fund · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
Nuveen (NAD) 10% Owner Wells Fargo Redeems 500 Preferred Shares
What Happened
Wells Fargo & Company (reporting jointly with its subsidiary Wells Fargo Municipal Capital Strategies, LLC), a 10% owner, reported the disposition of 500 munifund preferred shares of Nuveen Quality Municipal Income Fund (NAD). The shares were disposed of via a redemption by the issuer on March 11, 2026 at a redemption price of $100,099.09338 per share (liquidation preference $100,000.00 plus accrued dividends $99.09338), for an aggregate redemption value of approximately $50,049,546.69.
Key Details
- Transaction date: 2026-03-11 (reported on Form 4 filed 2026-03-13).
- Transaction type: Other disposition (redemption) — code J in the filing.
- Shares disposed: 500 munifund preferred shares.
- Price per share: $100,099.09338 (includes $100,000 liquidation preference + $99.09338 accrued dividends).
- Aggregate value: ~ $50,049,546.69.
- Shares owned after transaction: Not specified in the filing.
- Filing structure: Joint filing by Wells Fargo & Company and Wells Fargo Municipal Capital Strategies, LLC (footnotes F1–F3). Exhibits include a Joint Filing Agreement and Joint Filer Information.
Context
This was an issuer-initiated redemption (not an open-market sale or purchase). The filing reflects an institutional redemption by the subsidiary (Capital Strategies); Wells Fargo’s ownership is indirect via that subsidiary. The footnotes clarify ownership and the redemption mechanics; the filing does not indicate executive trading or market-timing intent.
Insider Transaction Report
- Other
MuniFund Preferred Shares
[F1][F2][F3]2026-03-11−500→ 2,988 total(indirect: By Subsidiary)
Footnotes (3)
- [F1]The 500 munifund preferred shares reported as disposed of in Table I represent munifund preferred shares of the Issuer (the "MFP Shares") that were beneficially owned by Wells Fargo Municipal Capital Strategies, LLC ("Capital Strategies"). The MFP Shares were disposed of as a result of a redemption by the Issuer for a redemption price of $100,099.09338 per share (which includes a liquidation preference of $100,000.00 per share and accrued dividends of $99.09338 per share).
- [F2]This statement is jointly filed by Wells Fargo & Company ("Wells Fargo") and Capital Strategies. Wells Fargo holds an indirect interest in the securities listed in Table I by virtue of its indirect ownership of its wholly owned subsidiary Capital Strategies.
- [F3]Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.