Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Crosses Above 50 Day Moving Average – Here’s Why

Shares of Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.45 and traded as high as $11.65. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.6150, with a volume of 1,169,637 shares traded.

Nuveen AMT-Free Quality Municipal Income Fund Stock Up 0.5%

The company’s 50 day moving average price is $11.45 and its 200 day moving average price is $11.56.

Nuveen AMT-Free Quality Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a $0.068 dividend. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 7.0%.

Institutional Trading of Nuveen AMT-Free Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Western Wealth Management LLC acquired a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund in the first quarter valued at about $174,000. Sunbelt Securities Inc. lifted its stake in shares of Nuveen AMT-Free Quality Municipal Income Fund by 7.5% in the first quarter. Sunbelt Securities Inc. now owns 16,529 shares of the company’s stock valued at $186,000 after purchasing an additional 1,150 shares during the period. Royal Bank of Canada lifted its stake in shares of Nuveen AMT-Free Quality Municipal Income Fund by 4.2% in the first quarter. Royal Bank of Canada now owns 1,330,531 shares of the company’s stock valued at $14,941,000 after purchasing an additional 53,506 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Nuveen AMT-Free Quality Municipal Income Fund by 98.8% in the first quarter. Quantinno Capital Management LP now owns 20,877 shares of the company’s stock valued at $234,000 after purchasing an additional 10,377 shares during the period. Finally, Gateway Wealth Partners LLC acquired a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund in the first quarter valued at about $149,000.

Nuveen AMT-Free Quality Municipal Income Fund Company Profile

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.