Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.27 and traded as high as $13.33. Nuveen Arizona Quality Municipal Income Fund shares last traded at $13.31, with a volume of 14,418 shares.

Nuveen Arizona Quality Municipal Income Fund Trading Up 0.4%

The company has a 50 day moving average price of $12.64 and a 200 day moving average price of $12.27.

Nuveen Arizona Quality Municipal Income Fund Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a dividend of $0.062 per share. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Monday, June 15th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. raised its holdings in Nuveen Arizona Quality Municipal Income Fund by 8.1% during the second quarter. Raymond James Financial Inc. now owns 51,009 shares of the investment management company’s stock worth $596,000 after purchasing an additional 3,813 shares in the last quarter. LPL Financial LLC raised its holdings in Nuveen Arizona Quality Municipal Income Fund by 129.0% during the fourth quarter. LPL Financial LLC now owns 120,906 shares of the investment management company’s stock worth $1,436,000 after purchasing an additional 68,109 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Nuveen Arizona Quality Municipal Income Fund by 27.0% during the fourth quarter. Wells Fargo & Company MN now owns 169,885 shares of the investment management company’s stock worth $2,018,000 after purchasing an additional 36,090 shares in the last quarter. Cetera Investment Advisers raised its holdings in Nuveen Arizona Quality Municipal Income Fund by 1.5% during the fourth quarter. Cetera Investment Advisers now owns 99,758 shares of the investment management company’s stock worth $1,185,000 after purchasing an additional 1,509 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in Nuveen Arizona Quality Municipal Income Fund by 7.7% during the fourth quarter. Stifel Financial Corp now owns 39,721 shares of the investment management company’s stock worth $472,000 after purchasing an additional 2,832 shares in the last quarter. 15.28% of the stock is owned by hedge funds and other institutional investors.

About Nuveen Arizona Quality Municipal Income Fund

Nuveen Arizona Quality Municipal Income Fund (NYSE: NAZ) is a closed-end management investment company that seeks to provide shareholders with a high level of current income that is exempt from regular U.S. federal income tax. Managed by Nuveen Asset Management, the fund focuses on investment-grade municipal obligations issued by or on behalf of entities located in the state of Arizona. Its portfolio typically includes general obligation bonds, revenue bonds and essential-purpose municipal securities backed by state and local governments and quasi-governmental agencies.

The fund employs fundamental credit analysis to select bonds that meet rigorous quality standards, aiming to preserve principal while generating tax-advantaged income.