Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.92 and traded as low as $11.85. Nuveen Quality Municipal Income Fund shares last traded at $11.8750, with a volume of 426,368 shares changing hands.

Nuveen Quality Municipal Income Fund Price Performance

The company has a fifty day moving average price of $11.88 and a 200-day moving average price of $11.92.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.0705 per share. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date is Wednesday, July 15th.

Institutional Trading of Nuveen Quality Municipal Income Fund

Several hedge funds have recently modified their holdings of NAD. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Nuveen Quality Municipal Income Fund in the fourth quarter valued at $32,000. Align Financial LLC bought a new stake in Nuveen Quality Municipal Income Fund in the fourth quarter worth $35,000. Noble Wealth Management PBC raised its stake in Nuveen Quality Municipal Income Fund by 274.6% during the fourth quarter. Noble Wealth Management PBC now owns 3,233 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 2,370 shares in the last quarter. Advocate Investing Services LLC purchased a new stake in Nuveen Quality Municipal Income Fund during the fourth quarter valued at $41,000. Finally, Capital Analysts LLC bought a new position in Nuveen Quality Municipal Income Fund during the fourth quarter valued at $42,000.

Nuveen Quality Municipal Income Fund Company Profile

Nuveen Quality Municipal Income Fund (NYSE:NAD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds, issued by state and local governments across the United States. By focusing on high-quality issuers, the fund aims to balance income generation with prudent risk management.

Launched in July 2022, NAD is managed by Nuveen Asset Management, a subsidiary of TIAA with decades of experience in municipal bond investing.