Nuveen Quality Municipal Income Fund (NYSE:NAD) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Nuveen Quality Municipal Income Fund (NYSE:NAD) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.88 and traded as low as $11.75. Nuveen Quality Municipal Income Fund shares last traded at $11.7550, with a volume of 763,078 shares trading hands.

Nuveen Quality Municipal Income Fund Stock Up 0.9%

The business has a fifty day moving average price of $11.87 and a 200-day moving average price of $11.87.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.0705 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a c) annualized dividend and a yield of 7.1%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Indivisible Partners bought a new position in shares of Nuveen Quality Municipal Income Fund in the fourth quarter worth approximately $1,360,000. Benjamin Edwards Inc. increased its stake in shares of Nuveen Quality Municipal Income Fund by 11.0% in the fourth quarter. Benjamin Edwards Inc. now owns 65,632 shares of the financial services provider’s stock worth $789,000 after buying an additional 6,500 shares during the period. Essex Bank bought a new stake in Nuveen Quality Municipal Income Fund during the 4th quarter valued at $133,000. Mutual Advisors LLC raised its holdings in Nuveen Quality Municipal Income Fund by 9.1% during the 4th quarter. Mutual Advisors LLC now owns 177,633 shares of the financial services provider’s stock valued at $2,135,000 after buying an additional 14,864 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its position in Nuveen Quality Municipal Income Fund by 6.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 19,626 shares of the financial services provider’s stock valued at $236,000 after buying an additional 1,146 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.