Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.93 and traded as low as $11.71. Nuveen Quality Municipal Income Fund shares last traded at $11.8350, with a volume of 686,082 shares.

Nuveen Quality Municipal Income Fund Stock Up 1.3%

The company has a 50 day simple moving average of $11.74 and a 200-day simple moving average of $11.93.

Nuveen Quality Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a dividend of $0.0705 per share. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 7.1%.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

A number of institutional investors have recently made changes to their positions in the company. Guggenheim Capital LLC raised its position in shares of Nuveen Quality Municipal Income Fund by 45.9% in the fourth quarter. Guggenheim Capital LLC now owns 2,572,898 shares of the financial services provider’s stock valued at $30,926,000 after buying an additional 809,838 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of Nuveen Quality Municipal Income Fund by 22.7% during the third quarter. Raymond James Financial Inc. now owns 2,436,790 shares of the financial services provider’s stock worth $28,486,000 after buying an additional 450,413 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Nuveen Quality Municipal Income Fund by 8.7% during the second quarter. Bank of America Corp DE now owns 2,659,934 shares of the financial services provider’s stock worth $30,031,000 after buying an additional 213,078 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Nuveen Quality Municipal Income Fund by 88.6% in the fourth quarter. NewEdge Advisors LLC now owns 371,835 shares of the financial services provider’s stock valued at $4,469,000 after purchasing an additional 174,652 shares during the period. Finally, Jane Street Group LLC increased its holdings in Nuveen Quality Municipal Income Fund by 139.4% in the fourth quarter. Jane Street Group LLC now owns 257,220 shares of the financial services provider’s stock valued at $3,092,000 after purchasing an additional 149,761 shares during the period.

Nuveen Quality Municipal Income Fund Company Profile

Nuveen Quality Municipal Income Fund (NYSE:NAD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds, issued by state and local governments across the United States. By focusing on high-quality issuers, the fund aims to balance income generation with prudent risk management.

Launched in July 2022, NAD is managed by Nuveen Asset Management, a subsidiary of TIAA with decades of experience in municipal bond investing.