Nuveen Quality Municipal Income Fund (NYSE:NAD) Shares Cross Above 50 Day Moving Average – What’s Next?

Nuveen Quality Municipal Income Fund (NYSE:NAD) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $11.80 and traded as high as $12.04. Nuveen Quality Municipal Income Fund shares last traded at $11.9150, with a volume of 408,082 shares trading hands.

Nuveen Quality Municipal Income Fund Trading Down 0.5%

The company’s 50 day moving average price is $11.80 and its 200-day moving average price is $11.93.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $0.0705 dividend. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 7.1%.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Silverlake Wealth Management LLC raised its position in Nuveen Quality Municipal Income Fund by 8.8% in the fourth quarter. Silverlake Wealth Management LLC now owns 79,175 shares of the financial services provider’s stock valued at $952,000 after purchasing an additional 6,388 shares during the period. Breakwater Capital Group boosted its position in shares of Nuveen Quality Municipal Income Fund by 3.6% in the fourth quarter. Breakwater Capital Group now owns 114,118 shares of the financial services provider’s stock worth $1,372,000 after buying an additional 3,916 shares during the period. Westview Management dba Westview Investment Advisors acquired a new stake in shares of Nuveen Quality Municipal Income Fund in the fourth quarter valued at about $646,000. Maridea Wealth Management LLC acquired a new stake in shares of Nuveen Quality Municipal Income Fund in the fourth quarter valued at about $146,000. Finally, Melone Private Wealth LLC raised its holdings in shares of Nuveen Quality Municipal Income Fund by 22.7% during the 4th quarter. Melone Private Wealth LLC now owns 289,583 shares of the financial services provider’s stock valued at $3,481,000 after buying an additional 53,652 shares during the period.

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.