Nuveen Minnesota Quality Municipal Income Fund has announced its intention to redeem up to 318 of its Adjustable Rate MuniFund Term Preferred Shares, Series 2028. This decision, detailed in a recent SEC filing, marks a significant step for the company as it seeks to optimize its capital structure.

Founded in Massachusetts and traded on the NYSE under the ticker NMS, Nuveen Minnesota Quality Municipal Income Fund operates as a closed-end investment company. The Fund primarily focuses on investing in municipal securities, aiming to provide income to its shareholders.

The SEC filing, dated November 3, 2026, indicates that the shares may be redeemed during the period from December 3, 2026, to June 3, 2027. The specific shares to be redeemed are the Adjustable Rate MuniFund Term Preferred Shares, Series 2028, which have a liquidation preference of $100,000 per share. The filing states, "The Fund may redeem Adjustable Rate MuniFund Term Preferred Shares, Series 2028 on one or more different dates during the period set forth above, or on a subsequent date, due to market conditions or otherwise as determined by the Board of Trustees of the Fund."

This redemption may affect shareholders holding these preferred shares, as they will receive notice regarding the final amount to be redeemed. The decision to redeem shares could also influence the broader municipal finance sector, as other firms may consider similar strategies in response to changing market dynamics.

Looking ahead, the filing does not specify what actions the Fund will take following the redemption process. Investors and market analysts will be keen to observe how this move impacts the Fund's performance and the potential reactions from its competitors in the closed-end fund market.