Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Shares Break Above 50-Day Moving Average – Should You Sell?

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA)’s share price crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $10.40 and traded as high as $10.49. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $10.44, with a volume of 1,584,827 shares traded.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

The stock’s 50-day moving average is $10.40 and its 200-day moving average is $11.24.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The business 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 $0.0680 dividend. This represents a $0.82 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Thursday, October 15th.

Insider Buying and Selling at Nuveen AMT-Free Quality Municipal Income Fund

In other news, Portfolio Manager Michael Hamilton sold 2,676 shares of the company’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $9.93, for a total transaction of $26,572.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Trading of Nuveen AMT-Free Quality Municipal Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEA. Cetera Investment Advisers grew its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 3.6% in the first quarter. Cetera Investment Advisers now owns 541,993 shares of the company’s stock valued at $6,087,000 after acquiring an additional 18,827 shares in the last quarter. Hilltop Holdings Inc. increased its position in shares of Nuveen AMT-Free Quality Municipal Income Fund by 24.5% during the first quarter. Hilltop Holdings Inc. now owns 15,308 shares of the company’s stock valued at $172,000 after acquiring an additional 3,010 shares during the last quarter. Lido Advisors LLC lifted its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 1.8% during the first quarter. Lido Advisors LLC now owns 227,460 shares of the company’s stock worth $2,570,000 after acquiring an additional 4,110 shares during the period. NewEdge Wealth LLC lifted its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 1.0% during the first quarter. NewEdge Wealth LLC now owns 123,680 shares of the company’s stock worth $1,389,000 after acquiring an additional 1,280 shares during the period. Finally, Independent Financial Group LLC purchased a new position in Nuveen AMT-Free Quality Municipal Income Fund in the first quarter worth $386,000.

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 current income that is exempt from regular U.S. federal income tax and the federal alternative minimum tax applicable to individuals.

The fund invests primarily in a diversified portfolio of municipal securities issued by states, counties, cities, and other public entities across the United States. These securities may finance public infrastructure and services such as transportation, education, healthcare, utilities, and housing.