Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.00 and traded as high as $12.46. Nuveen Arizona Quality Municipal Income Fund shares last traded at $12.15, with a volume of 93,998 shares.

Nuveen Arizona Quality Municipal Income Fund Price Performance

The firm has a 50-day moving average price of $12.16 and a 200 day moving average price of $12.00.

Nuveen Arizona Quality Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a $0.0655 dividend. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Friday, March 13th.

Institutional Trading of Nuveen Arizona Quality Municipal Income Fund

Institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its holdings in shares of 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 during the period. Royal Bank of Canada boosted its holdings in shares of Nuveen Arizona Quality Municipal Income Fund by 12.3% in the 4th quarter. Royal Bank of Canada now owns 18,712 shares of the investment management company’s stock valued at $222,000 after buying an additional 2,056 shares during the period. Smartleaf Asset Management LLC bought a new stake in shares of Nuveen Arizona Quality Municipal Income Fund during the 3rd quarter valued at about $30,000. CoreCap Advisors LLC grew its position in shares of Nuveen Arizona Quality Municipal Income Fund by 125.0% during the 4th quarter. CoreCap Advisors LLC now owns 4,500 shares of the investment management company’s stock valued at $53,000 after buying an additional 2,500 shares during the last quarter. Finally, Stifel Financial Corp raised its stake 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 acquiring an additional 2,832 shares during the period. Institutional investors own 15.28% of the company’s stock.

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.