Nuveen Minnesota Quality Municipal Income Fund (NMS) filed an initial statement of beneficial ownership on Form 3 for Kristen Dejong, who is identified as a Portfolio Manager. The filing reports no transactions or equity or derivative holdings in the fund’s securities for this reporting person as of the filing date.
Nuveen Minnesota Quality Municipal Income Fund (NMS) had an initial ownership report filed on Form 3 by reporting person Parth Doshi, identified with the role "VP." This filing establishes insider reporting status but lists no reportable transactions and no holdings or derivative positions as of the reporting date.
Nuveen’s state-specific municipal closed-end funds for Massachusetts (NMT), Minnesota (NMS) and Virginia (NPV) report solid results for the year ended May 31, 2026. NMS, the Minnesota fund and ticker in focus, delivered a 10.24% total return at NAV, outperforming the S&P Municipal Bond Minnesota Index at 6.55%. NMT returned 9.58% versus its Massachusetts index at 6.73%, and NPV returned 10.54% versus the Virginia index at 6.53%.
All three funds maintained regular monthly distributions, with 12‑month per‑share totals of $0.7890 (NMT), $0.8190 (NMS) and $0.8010 (NPV). As of May 31, 2026, NMS showed a market yield of 7.21% and a taxable‑equivalent yield of 14.63%, supported by leveraged municipal bond portfolios. Effective leverage stood near 39–40% for all three funds.
The board approved proposed mergers of NMS and NPV into Nuveen Municipal Credit Income Fund (NZF), subject to shareholder approval and other conditions. The funds also updated their 80% investment policy language to reference “Assets” rather than “Managed Assets,” while remaining focused on investment‑grade municipal securities.
Nuveen Minnesota Quality Municipal Income Fund and Nuveen Virginia Quality Municipal Income Fund are asking shareholders to approve mergers into Nuveen Municipal Credit Income Fund. Common and preferred shares of each Target Fund would be converted into newly issued Acquiring Fund shares, generally on a tax-free basis.
The combined fund would be much larger, with pro forma common assets of about $2.7 billion and total investment exposure of about $4.57 billion, potentially lowering operating expenses and increasing liquidity. Risk will shift from state-specific, primarily investment grade portfolios to a nationally diversified fund that can invest more heavily in lower rated municipal bonds.
Existing preferred shareholders would receive Acquiring Fund preferred shares with substantially similar terms and equal priority, but without Minnesota/Virginia state tax “gross-up” features. The mergers are expected to qualify as tax-free reorganizations, and each Target Fund’s board unanimously recommends voting FOR its merger proposal.
Nuveen Minnesota Quality Municipal Income Fund (NMS) and Nuveen Virginia Quality Municipal Income Fund (NPV) propose mergers into Nuveen Municipal Credit Income Fund (the Acquiring Fund). Each Target Fund’s Board unanimously recommends approval. Preferred shareholders would receive newly issued Acquiring Fund preferred shares on a one-for-one basis; common shares would convert based on relative NAVs at the Valuation Time. The mergers would eliminate state-specific tax-exempt status for Target Fund shareholders and remove state-specific “gross-up” protections from the replacement preferred share terms. Closing is subject to shareholder approvals, additional third-party consents and customary closing conditions. Special Meetings are scheduled for September 24, 2026, with record date May 28, 2026.
Nuveen Minnesota Quality Municipal Income Fund (NMS) supplement dated April 30, 2026 notifies shareholders that the Boards of Trustees of NMS, Nuveen Virginia Quality Municipal Income Fund (NPV) and Nuveen Municipal Credit Income Fund (NZF) have approved proposals to merge NPV and NMS into NZF. The mergers are conditional on shareholder approval and other customary conditions and are not contingent on one another closing.
The supplement states that NMS and NPV are state-specific municipal funds seeking income exempt from federal and a single state tax, while NZF is a national municipal fund seeking income exempt from federal tax only. If the mergers are approved, NMS and NPV shareholders would lose the applicable state tax exemption as a result of merging into NZF. Detailed proxy materials are expected to be filed and special meetings will be held to consider the proposals.
Nuveen Minnesota Quality Municipal Income Fund (NMS) and related Nuveen closed-end funds are calling virtual-only annual shareholder meetings on April 16, 2026. Shareholders of record as of February 9, 2026 may vote online, by phone, mail, or during the webcast using a control number.
The main proposals are the election of independent Board Members across the fund complex, including separate voting rights for holders of preferred shares at certain funds. Multi-Market Income Fund shareholders are asked to formally elect multiple trustees who have been serving in holdover terms after prior meetings lacked a quorum.
The proxy details board structure, committee responsibilities, and updated compensation for Independent Board Members, who receive a base retainer plus committee and chair fees allocated across 200+ Nuveen funds. All nominees are classified as independent and the Board unanimously recommends voting FOR each nominee.
Nuveen Minnesota Quality Municipal Income Fund filed a Form 3 for officer Joseph Castro, who serves as EVP, Chief Risk & Compliance. The filing identifies him as an officer but not a director or 10% owner. No share purchases, sales, or other transactions are reported.