Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.43 and traded as low as $11.11. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.2440, with a volume of 1,111,164 shares.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

The company’s fifty day moving average is $11.43 and its 200-day moving average is $11.57.

Nuveen AMT-Free Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a dividend of $0.068 per share. The ex-dividend date is Friday, May 15th. This represents a c) annualized dividend and a yield of 7.3%.

Institutional Trading of Nuveen AMT-Free Quality Municipal Income Fund

Several hedge funds have recently added to or reduced their stakes in the business. Western Wealth Management LLC bought a new stake in Nuveen AMT-Free Quality Municipal Income Fund during the 1st quarter valued at approximately $174,000. Sunbelt Securities Inc. boosted its stake in Nuveen AMT-Free Quality Municipal Income Fund by 7.5% during the 1st quarter. Sunbelt Securities Inc. now owns 16,529 shares of the company’s stock valued at $186,000 after purchasing an additional 1,150 shares during the period. Royal Bank of Canada boosted its stake in Nuveen AMT-Free Quality Municipal Income Fund by 4.2% during the 1st quarter. Royal Bank of Canada now owns 1,330,531 shares of the company’s stock valued at $14,941,000 after purchasing an additional 53,506 shares during the period. Quantinno Capital Management LP boosted its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 98.8% in the 1st quarter. Quantinno Capital Management LP now owns 20,877 shares of the company’s stock valued at $234,000 after purchasing an additional 10,377 shares during the period. Finally, Gateway Wealth Partners LLC bought a new stake in Nuveen AMT-Free Quality Municipal Income Fund in the 1st quarter valued at $149,000.

About Nuveen AMT-Free Quality Municipal Income Fund

Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA) is a closed-end management investment company that seeks to provide high current income exempt from federal alternative minimum tax. The fund primarily invests in a diversified portfolio of investment-grade municipal bonds, focusing on securities that enjoy strong credit quality and are issued by states, municipalities and public authorities across the United States.

In constructing its portfolio, NEA emphasizes bonds that are rated investment grade by one or more major rating agencies, with an aim to balance income generation and risk management.