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

Nuveen Quality Municipal Income Fund (NYSE:NAD) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.92 and traded as low as $11.92. Nuveen Quality Municipal Income Fund shares last traded at $11.9880, with a volume of 627,055 shares trading hands.

Nuveen Quality Municipal Income Fund Stock Performance

The business has a 50-day moving average of $11.86 and a two-hundred day moving average of $11.92.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.0705 per share. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Wednesday, July 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in Nuveen Quality Municipal Income Fund in the 4th quarter valued at $32,000. Align Financial LLC bought a new stake in Nuveen Quality Municipal Income Fund in the fourth quarter valued at about $35,000. Noble Wealth Management PBC lifted its stake in 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 worth $39,000 after purchasing an additional 2,370 shares during the period. Advocate Investing Services LLC acquired a new stake in Nuveen Quality Municipal Income Fund during the fourth quarter valued at approximately $41,000. Finally, Capital Analysts LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund in the 4th quarter valued at approximately $42,000.

Nuveen Quality Municipal Income Fund Company Profile

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.