Nuveen Quality Municipal Income Fund (NYSE:NAD) Shares Cross Below 200 Day Moving Average – Here’s Why

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.96 and traded as low as $11.11. Nuveen Quality Municipal Income Fund shares last traded at $11.2780, with a volume of 1,173,473 shares changing hands.

Nuveen Quality Municipal Income Fund Stock Down 0.2%

The firm’s 50-day simple moving average is $12.02 and its 200-day simple moving average is $11.96.

Nuveen Quality Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.0705 dividend. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Friday, March 13th.

Insiders Place Their Bets

In other news, major shareholder Of America Corp /De/ Bank bought 6,374 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were acquired at an average cost of $12.01 per share, with a total value of $76,551.74. Following the completion of the transaction, the insider directly owned 6,374 shares in the company, valued at $76,551.74. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Nuveen Quality Municipal Income Fund

Hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund during the third quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. bought a new position in Nuveen Quality Municipal Income Fund in the fourth quarter worth $32,000. Align Financial LLC bought a new position in Nuveen Quality Municipal Income Fund in the fourth quarter worth $35,000. Noble Wealth Management PBC boosted its stake in Nuveen Quality Municipal Income Fund by 274.6% during the fourth quarter. Noble Wealth Management PBC now owns 3,233 shares of the financial services provider’s stock worth $39,000 after buying an additional 2,370 shares in the last quarter. Finally, Advocate Investing Services LLC acquired a new stake in Nuveen Quality Municipal Income Fund during the fourth quarter worth $41,000.

About Nuveen Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund (NYSE:NAD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds, issued by state and local governments across the United States. By focusing on high-quality issuers, the fund aims to balance income generation with prudent risk management.

Launched in July 2022, NAD is managed by Nuveen Asset Management, a subsidiary of TIAA with decades of experience in municipal bond investing.