Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Crosses Below 50 Day Moving Average – Should You Sell?

Shares of Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.33 and traded as low as $10.93. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $10.9550, with a volume of 1,920,401 shares trading hands.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

The business has a fifty day simple moving average of $11.33 and a 200 day simple moving average of $11.45.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $0.068 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 7.4%.

Hedge Funds Weigh In On Nuveen AMT-Free Quality Municipal Income Fund

Several large investors have recently bought and sold shares of the stock. Basepoint Wealth LLC bought a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund in the 4th quarter worth $26,000. Entrust Financial LLC purchased a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund in the fourth quarter valued at about $32,000. Pinnacle Bancorp Inc. bought a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund during the first quarter valued at about $41,000. International Assets Investment Management LLC bought a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund during the fourth quarter valued at about $44,000. Finally, Allied Private Wealth LLC purchased a new position in Nuveen AMT-Free Quality Municipal Income Fund during the second quarter worth about $72,000.

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.