Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Breaks Below 50-Day Moving Average – What’s Next?

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA)’s share price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $10.71 and traded as low as $9.90. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $10.0040, with a volume of 2,621,673 shares traded.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

The stock has a 50-day moving average of $10.71 and a two-hundred day moving average of $11.20.

Nuveen AMT-Free Quality Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be paid a $0.0680 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend is Thursday, October 15th.

Insider Activity at Nuveen AMT-Free Quality Municipal Income Fund

In other news, Portfolio Manager Michael S. Hamilton sold 2,676 shares of the firm’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $9.93, for a total transaction of $26,572.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

A number of hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC raised its position in shares of Nuveen AMT-Free Quality Municipal Income Fund by 59.4% during the 1st quarter. Kestra Advisory Services LLC now owns 439,599 shares of the company’s stock valued at $4,966,000 after purchasing an additional 163,738 shares during the period. Melone Private Wealth LLC boosted its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 21.2% in the 2nd quarter. Melone Private Wealth LLC now owns 862,704 shares of the company’s stock worth $10,128,000 after buying an additional 150,967 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 119.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 173,183 shares of the company’s stock worth $2,033,000 after buying an additional 94,216 shares during the period. MBA Advisors LLC bought a new position in Nuveen AMT-Free Quality Municipal Income Fund in the 2nd quarter worth $1,105,000. Finally, Van ECK Associates Corp boosted its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 7.1% in the 2nd quarter. Van ECK Associates Corp now owns 1,413,670 shares of the company’s stock worth $16,596,000 after buying an additional 93,741 shares during the period.

About Nuveen AMT-Free Quality Municipal Income Fund

Nuveen AMT-Free Quality Municipal Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol NEA. The fund seeks to provide current income that is generally exempt from regular federal income tax and the federal alternative minimum tax, while also pursuing the preservation of capital.

The fund invests primarily in municipal bonds and other tax-exempt municipal securities issued by states, local governments and related entities across the United States.