Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Passes Above 50-Day Moving Average – Here’s Why

Shares of Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.35 and traded as high as $11.54. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.53, with a volume of 642,453 shares.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

The company has a 50 day simple moving average of $11.35 and a 200-day simple moving average of $11.59.

Nuveen AMT-Free Quality Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.073 per share. This represents a $0.88 annualized dividend and a yield of 7.60%. The ex-dividend date of this dividend is Friday, February 14th.

Institutional Investors Weigh In On Nuveen AMT-Free Quality Municipal Income Fund

Several hedge funds have recently added to or reduced their stakes in NEA. Bramshill Investments LLC increased its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 27.5% in the fourth quarter. Bramshill Investments LLC now owns 4,356,813 shares of the company’s stock worth $49,145,000 after buying an additional 939,948 shares during the period. Mackay Shields LLC increased its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 0.9% in the fourth quarter. Mackay Shields LLC now owns 4,041,001 shares of the company’s stock worth $45,582,000 after buying an additional 36,981 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 81.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,997,374 shares of the company’s stock worth $33,810,000 after buying an additional 1,349,195 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund in the fourth quarter worth about $23,264,000. Finally, Pathstone Holdings LLC increased its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 4.9% in the third quarter. Pathstone Holdings LLC now owns 2,027,511 shares of the company’s stock worth $24,271,000 after buying an additional 94,273 shares during the period.

Nuveen AMT-Free Quality Municipal Income Fund Company Profile

Nuveen AMT-Free Quality Municipal Income Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments Inc The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. It invests in the fixed income markets of the United States. The fund primarily invests in undervalued municipal bonds that are exempt from federal income taxes, including the alternative minimum tax.