Nuveen New York Quality Municipal Income Fund (NYSE:NAN) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

Nuveen New York Quality Municipal Income Fund (NYSE:NAN)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.41 and traded as low as $11.39. Nuveen New York Quality Municipal Income Fund shares last traded at $11.4490, with a volume of 56,374 shares changing hands.

Nuveen New York Quality Municipal Income Fund Stock Performance

The business’s 50 day simple moving average is $11.34 and its 200 day simple moving average is $11.41.

Nuveen New York Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a dividend of $0.072 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 7.5%.

Insider Buying and Selling

In other news, major shareholder Of America Corp /De/ Bank acquired 3,000 shares of Nuveen New York Quality Municipal Income Fund stock in a transaction on Tuesday, May 19th. The stock was bought at an average cost of $11.28 per share, with a total value of $33,840.00. Following the completion of the purchase, the insider owned 3,000 shares of the company’s stock, valued at $33,840. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Trading of Nuveen New York Quality Municipal Income Fund

A number of hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC purchased a new stake in Nuveen New York Quality Municipal Income Fund during the first quarter valued at about $74,000. NewEdge Advisors LLC lifted its stake in Nuveen New York Quality Municipal Income Fund by 8.2% during the first quarter. NewEdge Advisors LLC now owns 11,901 shares of the financial services provider’s stock valued at $133,000 after buying an additional 900 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Nuveen New York Quality Municipal Income Fund during the first quarter valued at about $1,857,000. NewEdge Wealth LLC lifted its stake in Nuveen New York Quality Municipal Income Fund by 74.1% during the first quarter. NewEdge Wealth LLC now owns 47,000 shares of the financial services provider’s stock valued at $524,000 after buying an additional 20,000 shares in the last quarter. Finally, PFG Investments LLC lifted its stake in Nuveen New York Quality Municipal Income Fund by 13.0% during the first quarter. PFG Investments LLC now owns 37,434 shares of the financial services provider’s stock valued at $417,000 after buying an additional 4,316 shares in the last quarter.

Nuveen New York Quality Municipal Income Fund Company Profile

The Nuveen New York Quality Municipal Income Fund (NYSE: NAN) is a closed-end management investment company that seeks to provide current income exempt from federal and New York State income taxes. The Fund invests principally in a portfolio of investment-grade municipal obligations issued by or on behalf of the State of New York and its political subdivisions. Through its focus on tax-exempt securities, NAN is designed to offer investors an attractive yield advantage relative to taxable alternatives in the New York market.

The Fund’s portfolio is comprised primarily of general obligation and revenue bonds issued by state and local governments, authorities, agencies and instrumentalities within New York.