Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.41 and traded as high as $12.71. Nuveen Arizona Quality Municipal Income Fund shares last traded at $12.5290, with a volume of 107,262 shares traded.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

The business’s 50 day simple moving average is $12.73 and its 200-day simple moving average is $12.41.

Nuveen Arizona Quality Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.062 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%.

Hedge Funds Weigh In On Nuveen Arizona Quality Municipal Income Fund

A number of institutional investors have recently modified their holdings of the company. Cetera Investment Advisers raised its stake in shares of Nuveen Arizona Quality Municipal Income Fund by 1.5% in the 4th quarter. Cetera Investment Advisers now owns 99,758 shares of the investment management company’s stock valued at $1,185,000 after buying an additional 1,509 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Nuveen Arizona Quality Municipal Income Fund by 12.3% during the 4th quarter. Royal Bank of Canada now owns 18,712 shares of the investment management company’s stock worth $222,000 after acquiring an additional 2,056 shares during the period. CoreCap Advisors LLC boosted 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 acquiring an additional 2,500 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Nuveen Arizona Quality Municipal Income Fund by 7.7% during the 4th quarter. Stifel Financial Corp now owns 39,721 shares of the investment management company’s stock valued at $472,000 after acquiring an additional 2,832 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in Nuveen Arizona Quality Municipal Income Fund by 8.1% in the second quarter. Raymond James Financial Inc. now owns 51,009 shares of the investment management company’s stock valued at $596,000 after acquiring an additional 3,813 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.