Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.90 and traded as low as $11.61. Nuveen Quality Municipal Income Fund shares last traded at $11.6250, with a volume of 456,099 shares traded.

Nuveen Quality Municipal Income Fund Price Performance

The business has a fifty day moving average of $11.86 and a 200-day moving average of $11.90.

Nuveen Quality Municipal Income Fund Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a yield of 7.3%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Koshinski Asset Management Inc. raised its holdings in shares of Nuveen Quality Municipal Income Fund by 338.3% in the 4th quarter. Koshinski Asset Management Inc. now owns 63,042 shares of the financial services provider’s stock worth $758,000 after acquiring an additional 48,660 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in Nuveen Quality Municipal Income Fund by 6.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 19,626 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 1,146 shares during the last quarter. Mutual Advisors LLC boosted its stake in Nuveen Quality Municipal Income Fund by 9.1% during the 4th quarter. Mutual Advisors LLC now owns 177,633 shares of the financial services provider’s stock valued at $2,135,000 after purchasing an additional 14,864 shares during the last quarter. CWM LLC increased its holdings in Nuveen Quality Municipal Income Fund by 443.6% during the 4th quarter. CWM LLC now owns 32,615 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 26,615 shares in the last quarter. Finally, Essex Bank bought a new stake in Nuveen Quality Municipal Income Fund during the 4th quarter worth approximately $133,000.

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.