Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.10 and traded as high as $12.74. Nuveen Arizona Quality Municipal Income Fund shares last traded at $12.61, with a volume of 20,331 shares.

Nuveen Arizona Quality Municipal Income Fund Stock Up 0.2%

The firm’s fifty day moving average is $12.34 and its 200 day moving average is $12.10.

Nuveen Arizona Quality Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were paid a $0.0655 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC acquired a new stake in shares of Nuveen Arizona Quality Municipal Income Fund in the third quarter valued at $30,000. CoreCap Advisors LLC boosted its stake in Nuveen Arizona Quality Municipal Income Fund by 125.0% in the fourth 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. Ameriflex Group Inc. boosted its stake in Nuveen Arizona Quality Municipal Income Fund by 100.0% in the third quarter. Ameriflex Group Inc. now owns 8,620 shares of the investment management company’s stock valued at $102,000 after acquiring an additional 4,310 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in Nuveen Arizona Quality Municipal Income Fund in the second quarter valued at $169,000. Finally, NewEdge Advisors LLC acquired a new position in Nuveen Arizona Quality Municipal Income Fund in the first quarter valued at $211,000. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

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.