Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Shares Pass Above 200 Day Moving Average – What’s Next?

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.20 and traded as high as $12.78. Nuveen Arizona Quality Municipal Income Fund shares last traded at $12.76, with a volume of 33,429 shares traded.

Nuveen Arizona Quality Municipal Income Fund Trading Up 0.2%

The stock has a 50-day moving average price of $12.50 and a 200 day moving average price of $12.20.

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. This represents a c) dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Friday, May 15th.

Institutional Investors Weigh In On Nuveen Arizona Quality Municipal Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Western Wealth Management LLC acquired a new stake in Nuveen Arizona Quality Municipal Income Fund in the 1st quarter valued at approximately $627,000. Cetera Investment Advisers raised 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 valued at $1,215,000 after buying an additional 1,542 shares during the last quarter. Independent Financial Group LLC acquired a new stake in Nuveen Arizona Quality Municipal Income Fund in the 1st quarter valued at approximately $245,000. Diversify Wealth Management LLC raised its position in Nuveen Arizona Quality Municipal Income Fund by 36.5% in the 1st quarter. Diversify Wealth Management LLC now owns 28,036 shares of the investment management company’s stock valued at $353,000 after buying an additional 7,500 shares during the last quarter. Finally, Royal Bank of Canada raised its position in Nuveen Arizona Quality Municipal Income Fund by 12.3% in the 4th quarter. Royal Bank of Canada now owns 18,712 shares of the investment management company’s stock valued at $222,000 after buying an additional 2,056 shares during the last quarter. Institutional investors and hedge funds 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.