Nuveen New York AMT-Free Quality Municipal Income Fund (NYSE:NRK) Stock Price Crosses Above 50-Day Moving Average – Should You Sell?

Shares of Nuveen New York AMT-Free Quality Municipal Income Fund (NYSE:NRK) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $10.11 and traded as high as $10.14. Nuveen New York AMT-Free Quality Municipal Income Fund shares last traded at $10.1250, with a volume of 226,709 shares changing hands.

Nuveen New York AMT-Free Quality Municipal Income Fund Price Performance

The company’s 50 day moving average is $10.11 and its 200-day moving average is $9.89.

Nuveen New York AMT-Free Quality Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Thursday, January 15th will be issued a dividend of $0.069 per share. This represents a c) annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Thursday, January 15th.

Institutional Trading of Nuveen New York AMT-Free Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in NRK. Mathes Company Inc. increased its position in Nuveen New York AMT-Free Quality Municipal Income Fund by 4.5% during the 3rd quarter. Mathes Company Inc. now owns 23,000 shares of the financial services provider’s stock valued at $235,000 after buying an additional 1,000 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Nuveen New York AMT-Free Quality Municipal Income Fund by 6.7% in the second quarter. Cetera Investment Advisers now owns 17,174 shares of the financial services provider’s stock worth $170,000 after acquiring an additional 1,077 shares during the last quarter. Frisch Financial Group Inc. increased its holdings in shares of Nuveen New York AMT-Free Quality Municipal Income Fund by 8.1% during the third quarter. Frisch Financial Group Inc. now owns 17,221 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 1,297 shares in the last quarter. First Horizon Corp purchased a new position in shares of Nuveen New York AMT-Free Quality Municipal Income Fund in the 3rd quarter worth about $26,000. Finally, PFG Investments LLC boosted its stake in Nuveen New York AMT-Free Quality Municipal Income Fund by 1.0% in the 2nd quarter. PFG Investments LLC now owns 260,163 shares of the financial services provider’s stock worth $2,578,000 after purchasing an additional 2,564 shares in the last quarter.

About Nuveen New York AMT-Free Quality Municipal Income Fund

Nuveen New York AMT-Free Quality Municipal Income Fund (NYSE: NRK) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal and New York State personal income taxes, including the alternative minimum tax. The fund primarily invests in investment-grade municipal securities issued by or on behalf of public authorities and municipalities located in New York. Its portfolio is broadly diversified across metropolitan areas, local school districts, transportation authorities and other state and local entities.

Managed by Nuveen Asset Management LLC, a subsidiary of TIAA that specializes in municipal bond investing, NRK employs a disciplined, quality-focused approach to security selection.