Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.33 and traded as high as $12.77. Nuveen Arizona Quality Municipal Income Fund shares last traded at $12.63, with a volume of 25,434 shares trading hands.

Nuveen Arizona Quality Municipal Income Fund Price Performance

The business has a 50-day simple moving average of $12.75 and a two-hundred day simple moving average of $12.33.

Nuveen Arizona Quality Municipal Income Fund Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.062 dividend. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Monday, June 15th.

Institutional Investors Weigh In On Nuveen Arizona Quality Municipal Income Fund

A number of hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in Nuveen Arizona Quality Municipal Income Fund by 11.1% during the 1st quarter. Royal Bank of Canada now owns 23,983 shares of the investment management company’s stock valued at $289,000 after purchasing an additional 2,391 shares during the last quarter. NewEdge Advisors LLC bought a new stake in Nuveen Arizona Quality Municipal Income Fund during the first quarter worth about $211,000. Diversify Wealth Management LLC acquired a new stake in shares of Nuveen Arizona Quality Municipal Income Fund during the second quarter worth approximately $169,000. Raymond James Financial Inc. increased its holdings in shares of 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 buying an additional 3,813 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Nuveen Arizona Quality Municipal Income Fund by 14.1% in the second quarter. Bank of America Corp DE now owns 37,054 shares of the investment management company’s stock valued at $433,000 after acquiring an additional 4,593 shares during the last quarter. Institutional investors and hedge funds own 15.28% of the company’s stock.

Nuveen Arizona Quality Municipal Income Fund Company Profile

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.