Closed-End Funds

CEF

Nuveen Quality Income Municipal Fund, Inc. (NYSE: NQU)

Objective

The fund seeks current income exempt from regular federal income tax. The secondary investment objective is the enhancement of portfolio value.

Investment Strategy

The fund invests in municipal securities that are exempt from federal income taxes. The fund invests at least 80% of its managed assets in municipal securities rated investment grade (Baa/BBB or better by S&P, Moody’s, or Fitch) at the time of investment, or, if they are unrated, are judged by the manager to be of comparable quality. The fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality, of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. The fund uses leverage.

Highlights

Seeks to provide:

  • Attractive monthly tax-free income
  • Portfolio diversification
  • Attractive after tax total returns

Daily Pricing

Closing Share Price (As of 4/21/2014)$13.37
Closing NAV per Share (As of 4/21/2014)$14.88
Premium / Discount**-10.15%
Current Distribution Rate (Market price)††6.15%
Distribution Amount (Monthly) $0.0685
Distribution Type Income

Portfolio Management 

Asset Allocation

As of 03/31/2014

Total may not add up to 100% due to rounding.


RISKS
The Fund is designed as a long-term investment and not as a trading vehicle. The Fund is not intended to be a complete investment program. Investors should carefully review and consider the risks listed below before investing.

Investment and Market Risk: An investment in common shares is subject to investment risk, including the possible loss of the entire principal amount that you invest. Your investment in common shares represents an indirect investment in the corporate securities owned by the Fund, which generally trade in the over-the-counter markets. Your common shares at any point in time may be worth less than your original investment, even after taking into account the reinvestment of Fund dividends and distributions.Price Risk: Shares of closed-end investment companies like the Fund frequently trade at a discount to their NAV. Your common shares at any point in time may be worth less than your original investment, even after taking into account the reinvestment of Fund dividends and distributions.Leverage Risk: Each Fund’s use of leverage creates the possibility of higher volatility for the Fund’s per share NAV, market price, distributions and returns. There is no assurance that a Fund’s leveraging strategy will be successful.Tax Risk: The Fund’s investment program and the tax treatment of Fund distributions may be affected by IRS interpretations of the Internal Revenue Code and future changes in tax laws and regulations, including changes resulting from the “sunset” provisions that may apply to the favorable tax treatment of tax-advantaged dividends. There can be no assurance as to the percentage of a Fund’s distributions that will qualify as tax-advantaged dividends.Issuer Credit Risk: This is the risk that a security in a Fund's portfolio will fail to make dividend or interest payments when due.Inverse Floater Risk: The Funds may invest in inverse floaters. Due to their leveraged nature, these investments can greatly increase a Fund’s exposure to interest rate risk and credit risk. In addition, investments in inverse floaters involve the risk that the Fund could lose more than its original principal investment. Below-Investment Grade Securities Risk: Investments in securities below investment grade quality are predominantly speculative and subject to greater volatility and risk of default.Call Risk or Prepayment Risk: Issuers may exercise their option to prepay principal earlier than scheduled, forcing the Fund to reinvest in lower-yielding securities. Derivatives Strategy Risk: Derivative securities, such as calls, puts, warrants, swaps and forwards, carry risks different from, and possibly greater than, the risks associated with the underlying investments.Interest Rate Risk: Fixed-income securities such as bonds, preferred, convertible and other debt securities will decline in value if market interest rates rise. Reinvestment Risk: If market interest rates decline, income earned from the Fund’s portfolio may be reinvested at rates below that of the original bond that generated the income.
NOTES

** The premium/discount is calculated as (most recent price/most recent NAV) -1.

†† Distribution rates represent the latest declared regular distribution, annualized, relative to the most recent market price and NAV. Special distributions, including special capital gains distributions, are not included in the calculation.

Income may be subject to state and local income taxes and the alternative minimum tax. Capital gains, if any, will be subject to capital gains tax.

INCOME ONLY DISTRIBUTIONS

Distributions are sourced entirely from net investment income, unless noted otherwise.

Fund data is updated daily, monthly, and quarterly, depending on the specific data point. Click HERE for the update schedule.

Frequency Data included
Daily all funds: Market price, NAV, premium/discount, annualized distribution rates on market price and NAV
Monthly all funds: Assets, leverage, expenses, total return performance, distribution amounts, earnings & UNII
Monthly certain funds: Municipal bond fund holdings and portfolio information
Monthly certain funds, with 1-month lag: Taxable fund holdings and portfolio information except JCE, NSL, JFR and JRO; and % AMT for municipal bond funds
Quarterly certain funds: JCE, NSL, JFR, and JRO holdings and portfolio information, tax characteristic estimates for distributions from funds paying quarterly distributions
Quarterly all funds: SEC filings (annual shareholder report, semi-annual shareholder report, or 10-Q filing)
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