Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Shares Pass Above 50 Day Moving Average – Here’s Why

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $11.69 and traded as high as $11.86. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.8450, with a volume of 729,517 shares trading hands.

Nuveen AMT-Free Quality Municipal Income Fund Stock Up 0.0%

The business’s 50 day moving average is $11.69 and its 200-day moving average is $11.47.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be paid a dividend of $0.068 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NEA. Wells Fargo & Company MN increased its stake in Nuveen AMT-Free Quality Municipal Income Fund by 4.0% during the 4th quarter. Wells Fargo & Company MN now owns 2,729,208 shares of the company’s stock worth $31,741,000 after buying an additional 105,807 shares in the last quarter. Guggenheim Capital LLC boosted its stake in shares of Nuveen AMT-Free Quality Municipal Income Fund by 52.0% in the fourth quarter. Guggenheim Capital LLC now owns 2,469,932 shares of the company’s stock worth $28,725,000 after acquiring an additional 845,210 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Nuveen AMT-Free Quality Municipal Income Fund by 11.3% during the third quarter. Raymond James Financial Inc. now owns 2,210,688 shares of the company’s stock worth $25,180,000 after purchasing an additional 224,720 shares in the last quarter. UBS Group AG raised its stake in Nuveen AMT-Free Quality Municipal Income Fund by 1.2% in the 4th quarter. UBS Group AG now owns 1,795,582 shares of the company’s stock valued at $20,883,000 after purchasing an additional 20,694 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Nuveen AMT-Free Quality Municipal Income Fund by 19.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,773,541 shares of the company’s stock valued at $20,626,000 after purchasing an additional 289,543 shares during the last quarter.

About Nuveen AMT-Free Quality Municipal Income Fund

Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA) is a closed-end management investment company that seeks to provide high current income exempt from federal alternative minimum tax. The fund primarily invests in a diversified portfolio of investment-grade municipal bonds, focusing on securities that enjoy strong credit quality and are issued by states, municipalities and public authorities across the United States.

In constructing its portfolio, NEA emphasizes bonds that are rated investment grade by one or more major rating agencies, with an aim to balance income generation and risk management.