Nuveen Arizona Quality Municipal Income Fund has filed a notice indicating its intention to redeem certain securities, specifically the Adjustable Rate MuniFund Term Preferred Shares, Series 2028. This decision is significant as it may reflect a strategic adjustment in the fund's management of its capital structure.

The fund, which trades on the NYSE under the ticker NAZ, is a closed-end investment company based in Chicago, Illinois. It primarily focuses on investing in municipal securities. The recent filing, dated November 3, 2026, underlines the fund's proactive approach in responding to market conditions.

According to the filing, the fund plans to redeem up to 588 of its Adjustable Rate MuniFund Term Preferred Shares, Series 2028, with a liquidation preference of $100,000 per share. The redemption is set to occur during the period from December 3, 2026, to June 3, 2027. The specific date for the redemption will depend on market conditions and decisions made by the Fund's Board of Trustees.

This move may affect shareholders of the Adjustable Rate MuniFund Term Preferred Shares, as they will receive notifications regarding the final amount to be redeemed. The filing emphasizes that the fund may redeem fewer shares than indicated or none at all, depending on various factors.

Looking ahead, the filing does not specify any further actions or upcoming votes related to this redemption process. Investors and market participants will be keen to monitor how this decision influences the fund's performance and the broader municipal finance landscape.