NUVEEN ARIZONA QUALITY MUNICIPAL INCOME FUND (NAZ)

Friday

4:55 AM

Thesis: The recent rise in interest rates has raised concerns about bond price depreciation, which could negatively affect the fund's NAV and investor sentiment.

Revenue Outlook

Metric	FY2024	FY2025
Revenue	$9M	$9M
Rev. Growth	+29.9%	-3.4%
EPS	$0.56	$-0.62
EPS Growth	-24.3%	-211%
P/E	22.5×	—

What Moves the Stock

1Changes in interest rates affecting bond prices
2Credit ratings of Arizona municipalities
3Tax policy changes impacting municipal bond attractiveness
4Investor sentiment towards municipal bonds
5Interest income from municipal bonds - 100%
6Increased infrastructure spending at the state level
7Growing demand for tax-exempt income solutions

FY2025 Snapshot

Revenue: $9M
Rev. Growth: -3.4%
Gross Margin: 83.5%
Op. Margin: -45.2%
Net Margin: -83.6%
Net Income: $-7M
NI Growth: -213%
EPS: $-0.62
1Y Return: +14.4%

NAZ Chart

My Notes

"Management noted, 'Rising rates present challenges for our bond portfolio, but we remain focused on maintaining quality.'"
Moat: The fund's focus on Arizona municipal bonds provides a niche advantage, but it faces significant competition from larger, diversified funds.
income - The fund appeals to income-focused investors seeking tax-exempt returns from municipal bonds.
High interest rates generally lead to lower bond prices, negatively impacting the fund's NAV.
Watch on earnings: 10-Year Treasury Yield (GS10), Arizona municipal bond credit ratings, Distribution yield.

One Sentence Summary:

Nuveen Arizona Quality Municipal Income Fund: the story is balanced — changes in interest rates affecting bond prices.

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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