Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.62 and traded as low as $10.94. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $10.9550, with a volume of 1,158,112 shares traded.

Nuveen AMT-Free Quality Municipal Income Fund Stock Down 0.6%

The firm’s 50 day moving average is $11.62 and its two-hundred day moving average is $11.55.

Nuveen AMT-Free Quality Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.068 per share. The ex-dividend date is Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 7.4%.

Hedge Funds Weigh In On Nuveen AMT-Free Quality Municipal Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the company. Alpine Global Management LLC raised its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 2.7% in the 4th quarter. Alpine Global Management LLC now owns 36,987 shares of the company’s stock valued at $430,000 after acquiring an additional 987 shares during the last quarter. Founders Financial Alliance LLC boosted its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 1.9% during the fourth quarter. Founders Financial Alliance LLC now owns 57,946 shares of the company’s stock worth $674,000 after purchasing an additional 1,074 shares during the last quarter. Wakefield Asset Management LLLP boosted its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 0.7% during the fourth quarter. Wakefield Asset Management LLLP now owns 164,842 shares of the company’s stock worth $1,917,000 after purchasing an additional 1,078 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in shares of Nuveen AMT-Free Quality Municipal Income Fund by 2.0% in the third quarter. Redhawk Wealth Advisors Inc. now owns 55,759 shares of the company’s stock valued at $635,000 after purchasing an additional 1,104 shares during the period. Finally, Wedbush Securities Inc. grew its position in shares of Nuveen AMT-Free Quality Municipal Income Fund by 9.5% in the third quarter. Wedbush Securities Inc. now owns 12,964 shares of the company’s stock valued at $148,000 after purchasing an additional 1,124 shares during the period.

About Nuveen AMT-Free Quality Municipal Income Fund

Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA) is a closed-end management investment company that seeks to provide high current income exempt from federal alternative minimum tax. The fund primarily invests in a diversified portfolio of investment-grade municipal bonds, focusing on securities that enjoy strong credit quality and are issued by states, municipalities and public authorities across the United States.

In constructing its portfolio, NEA emphasizes bonds that are rated investment grade by one or more major rating agencies, with an aim to balance income generation and risk management.