Nuveen Quality Municipal Income Fund (NYSE:NAD) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Shares of Nuveen Quality Municipal Income Fund (NYSE:NAD) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.96 and traded as low as $11.11. Nuveen Quality Municipal Income Fund shares last traded at $11.2780, with a volume of 1,173,473 shares changing hands.

Nuveen Quality Municipal Income Fund Trading Down 0.2%

The business has a 50-day simple moving average of $12.02 and a 200-day simple moving average of $11.96.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be paid a $0.0705 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date is Friday, March 13th.

Insider Activity

In other news, major shareholder Of America Corp /De/ Bank bought 6,374 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were acquired at an average cost of $12.01 per share, for a total transaction of $76,551.74. Following the purchase, the insider owned 6,374 shares of the company’s stock, valued at $76,551.74. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Nuveen Quality Municipal Income Fund by 7.3% in the first quarter. Royal Bank of Canada now owns 684,939 shares of the financial services provider’s stock valued at $7,891,000 after purchasing an additional 46,832 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Nuveen Quality Municipal Income Fund during the 1st quarter worth about $274,000. Focus Partners Wealth lifted its position in shares of Nuveen Quality Municipal Income Fund by 74.5% during the 1st quarter. Focus Partners Wealth now owns 20,698 shares of the financial services provider’s stock worth $238,000 after purchasing an additional 8,834 shares during the last quarter. Insigneo Advisory Services LLC bought a new stake in Nuveen Quality Municipal Income Fund during the 2nd quarter valued at approximately $119,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in Nuveen Quality Municipal Income Fund by 221.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 193,533 shares of the financial services provider’s stock valued at $2,185,000 after purchasing an additional 133,303 shares during the period.

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.