Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Price Passes Below 50 Day Moving Average – Should You Sell?

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) shares passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.60 and traded as low as $11.53. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.5650, with a volume of 716,516 shares traded.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

The business’s 50-day moving average price is $11.60 and its 200-day moving average price is $11.31.

Nuveen AMT-Free Quality Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Thursday, January 15th will be issued a dividend of $0.068 per share. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Thursday, January 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Noble Wealth Management PBC bought a new stake in Nuveen AMT-Free Quality Municipal Income Fund during the 4th quarter worth approximately $31,000. Traub Capital Management LLC purchased a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund in the second quarter worth $34,000. Fifth Third Bancorp purchased a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund in the third quarter worth $42,000. Global Wealth Strategies & Associates bought a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund during the 3rd quarter valued at $54,000. Finally, Caldwell Trust Co purchased a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund during the 2nd quarter valued at $53,000.

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.