Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.93 and traded as high as $12.32. Nuveen Arizona Quality Municipal Income Fund shares last traded at $12.29, with a volume of 54,945 shares changing hands.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

The company’s 50-day moving average price is $12.02 and its 200 day moving average price is $11.93.

Nuveen Arizona Quality Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were issued a dividend of $0.0655 per share. This represents a c) dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Friday, February 13th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC purchased a new stake in shares of Nuveen Arizona Quality Municipal Income Fund in the 3rd quarter worth $30,000. CoreCap Advisors LLC lifted its position in Nuveen Arizona Quality Municipal Income Fund by 125.0% during the fourth quarter. CoreCap Advisors LLC now owns 4,500 shares of the investment management company’s stock valued at $53,000 after purchasing an additional 2,500 shares in the last quarter. Ameriflex Group Inc. grew its holdings in Nuveen Arizona Quality Municipal Income Fund by 100.0% during the third quarter. Ameriflex Group Inc. now owns 8,620 shares of the investment management company’s stock valued at $102,000 after purchasing an additional 4,310 shares during the period. Plan Group Financial LLC purchased a new stake in Nuveen Arizona Quality Municipal Income Fund in the second quarter worth about $139,000. Finally, Diversify Wealth Management LLC bought a new position in shares of Nuveen Arizona Quality Municipal Income Fund in the second quarter worth about $169,000. 15.28% of the stock is currently owned by institutional investors.

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.