Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s stock price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $10.71 and traded as high as $10.75. Nuveen Quality Municipal Income Fund shares last traded at $10.7350, with a volume of 1,074,744 shares changing hands.

Nuveen Quality Municipal Income Fund Stock Performance

The company has a 50 day moving average of $10.71 and a 200-day moving average of $11.59.

Nuveen Quality Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.0705 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.85 annualized dividend and a dividend yield of 7.9%.

Insider Buying and Selling at Nuveen Quality Municipal Income Fund

In other Nuveen Quality Municipal Income Fund news, insider Young L. Robert sold 32,727 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $10.32, for a total value of $337,742.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terence J. Toth acquired 7,090 shares of the company’s stock in a transaction dated Wednesday, October 14th. The shares were bought at an average cost of $10.13 per share, with a total value of $71,821.70. Following the purchase, the insider owned 11,221 shares of the company’s stock, valued at approximately $113,668.73. This trade represents a 171.63% increase in their position. The SEC filing for this purchase provides additional information.

Institutional Trading of Nuveen Quality Municipal Income Fund

Several large investors have recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC bought a new position in Nuveen Quality Municipal Income Fund in the second quarter worth $31,000. Livelsberger Financial Advisory purchased a new position in Nuveen Quality Municipal Income Fund during the third quarter valued at $36,000. Latitude Advisors LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund during the 3rd quarter valued at $56,000. Allied Private Wealth LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund during the 2nd quarter valued at $75,000. Finally, Gateway Wealth Partners LLC purchased a new stake in shares of Nuveen Quality Municipal Income Fund in the 1st quarter worth about $115,000.

About Nuveen Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol NAD. The fund seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in municipal securities issued by states, cities, counties, and other public entities.

The fund’s portfolio may include bonds financing public infrastructure and essential services, such as transportation, education, health care, utilities, and water and sewer systems.