Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.92 and traded as low as $11.85. Nuveen Quality Municipal Income Fund shares last traded at $11.8750, with a volume of 426,368 shares trading hands.

Nuveen Quality Municipal Income Fund Trading Down 0.1%

The company has a 50-day moving average price of $11.88 and a two-hundred day moving average price of $11.92.

Nuveen Quality Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given a $0.0705 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 7.1%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NAD. Ramsey Quantitative Systems bought a new stake in shares of Nuveen Quality Municipal Income Fund in the 2nd quarter worth about $436,000. Melone Private Wealth LLC grew its holdings in Nuveen Quality Municipal Income Fund by 41.5% during the 2nd quarter. Melone Private Wealth LLC now owns 569,497 shares of the financial services provider’s stock valued at $6,902,000 after purchasing an additional 166,960 shares during the last quarter. Allied Private Wealth LLC bought a new position in Nuveen Quality Municipal Income Fund during the 2nd quarter valued at about $75,000. Hennion & Walsh Asset Management Inc. raised its position in Nuveen Quality Municipal Income Fund by 48.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,373,096 shares of the financial services provider’s stock worth $16,642,000 after purchasing an additional 445,351 shares during the period. Finally, Breakwater Capital Group raised its position in Nuveen Quality Municipal Income Fund by 1.8% in the 2nd quarter. Breakwater Capital Group now owns 125,400 shares of the financial services provider’s stock worth $1,520,000 after purchasing an additional 2,228 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.