Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.17 and traded as high as $12.86. Nuveen Arizona Quality Municipal Income Fund shares last traded at $12.83, with a volume of 5,324 shares traded.

Nuveen Arizona Quality Municipal Income Fund Price Performance

The stock has a 50-day moving average of $12.47 and a two-hundred day moving average of $12.17.

Nuveen Arizona Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a $0.0655 dividend. The ex-dividend date is Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 6.1%.

Institutional Trading of Nuveen Arizona Quality Municipal Income Fund

A number of hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its position in Nuveen Arizona Quality Municipal Income Fund by 27.0% in the 4th quarter. Wells Fargo & Company MN now owns 169,885 shares of the investment management company’s stock worth $2,018,000 after buying an additional 36,090 shares during the last quarter. LPL Financial LLC lifted its position in Nuveen Arizona Quality Municipal Income Fund by 129.0% in the 4th quarter. LPL Financial LLC now owns 120,906 shares of the investment management company’s stock worth $1,436,000 after buying an additional 68,109 shares during the last quarter. Cetera Investment Advisers lifted its position in Nuveen Arizona Quality Municipal Income Fund by 1.5% in the 1st quarter. Cetera Investment Advisers now owns 101,300 shares of the investment management company’s stock worth $1,215,000 after buying an additional 1,542 shares during the last quarter. Western Wealth Management LLC bought a new stake in Nuveen Arizona Quality Municipal Income Fund in the 1st quarter worth approximately $627,000. Finally, Raymond James Financial Inc. lifted its position in Nuveen Arizona Quality Municipal Income Fund by 8.1% in the 2nd quarter. Raymond James Financial Inc. now owns 51,009 shares of the investment management company’s stock worth $596,000 after buying an additional 3,813 shares during the last quarter. Institutional investors own 15.28% of the company’s stock.

Nuveen Arizona Quality Municipal Income Fund Company Profile

Nuveen Arizona Quality Municipal Income Fund (NYSE: NAZ) is a closed-end management investment company that seeks to provide shareholders with a high level of current income that is exempt from regular U.S. federal income tax. Managed by Nuveen Asset Management, the fund focuses on investment-grade municipal obligations issued by or on behalf of entities located in the state of Arizona. Its portfolio typically includes general obligation bonds, revenue bonds and essential-purpose municipal securities backed by state and local governments and quasi-governmental agencies.

The fund employs fundamental credit analysis to select bonds that meet rigorous quality standards, aiming to preserve principal while generating tax-advantaged income.