Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Passes Above 50-Day Moving Average – Here’s Why

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s stock price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $11.82 and traded as high as $12.12. Nuveen Quality Municipal Income Fund shares last traded at $12.1150, with a volume of 732,513 shares changing hands.

Nuveen Quality Municipal Income Fund Price Performance

The business has a 50-day moving average of $11.82 and a 200-day moving average of $11.92.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.0705 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 7.0%.

Hedge Funds Weigh In On Nuveen Quality Municipal Income Fund

A number of large investors have recently made changes to their positions in NAD. Whittier Trust Co. of Nevada Inc. bought a new position in Nuveen Quality Municipal Income Fund during the 4th quarter valued at about $32,000. Align Financial LLC bought a new stake in Nuveen Quality Municipal Income Fund in the fourth quarter worth about $35,000. Noble Wealth Management PBC boosted its position in shares of 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 valued at $39,000 after buying an additional 2,370 shares during the period. Advocate Investing Services LLC purchased a new position in shares of Nuveen Quality Municipal Income Fund during the fourth quarter valued at approximately $41,000. Finally, Capital Analysts LLC purchased a new position in shares of Nuveen Quality Municipal Income Fund during the fourth quarter valued at approximately $42,000.

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.