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

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.87 and traded as low as $11.75. Nuveen Quality Municipal Income Fund shares last traded at $11.7950, with a volume of 565,373 shares traded.

Nuveen Quality Municipal Income Fund Trading Up 0.1%

The company’s fifty day moving average price is $11.86 and its 200 day moving average price is $11.86.

Nuveen Quality Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.0705 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 7.2%.

Hedge Funds Weigh In On Nuveen Quality Municipal Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE acquired a new position in Nuveen Quality Municipal Income Fund during the second quarter valued at approximately $28,087,000. Guggenheim Capital LLC boosted its holdings in shares of Nuveen Quality Municipal Income Fund by 45.9% in the 4th quarter. Guggenheim Capital LLC now owns 2,572,898 shares of the financial services provider’s stock valued at $30,926,000 after purchasing an additional 809,838 shares in the last quarter. Raymond James Financial Inc. increased its stake in shares of Nuveen Quality Municipal Income Fund by 22.7% in the 3rd quarter. Raymond James Financial Inc. now owns 2,436,790 shares of the financial services provider’s stock valued at $28,486,000 after purchasing an additional 450,413 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Nuveen Quality Municipal Income Fund by 48.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,373,096 shares of the financial services provider’s stock worth $16,642,000 after buying an additional 445,351 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Nuveen Quality Municipal Income Fund during the 2nd quarter worth $5,046,000.

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.