Nuveen Quality Municipal Income Fund (NYSE:NAD) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.94 and traded as low as $11.80. Nuveen Quality Municipal Income Fund shares last traded at $11.8630, with a volume of 579,799 shares traded.

Nuveen Quality Municipal Income Fund Stock Performance

The business has a 50 day simple moving average of $11.70 and a 200 day simple moving average of $11.94.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a dividend of $0.0705 per share. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Friday, May 15th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC acquired a new position in Nuveen Quality Municipal Income Fund during the third quarter worth $29,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Nuveen Quality Municipal Income Fund during the fourth quarter worth $32,000. Align Financial LLC acquired a new position in Nuveen Quality Municipal Income Fund during the fourth quarter worth $35,000. Noble Wealth Management PBC lifted its stake in Nuveen Quality Municipal Income Fund by 274.6% during the fourth quarter. Noble Wealth Management PBC now owns 3,233 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 2,370 shares in the last quarter. Finally, Advocate Investing Services LLC acquired a new position in Nuveen Quality Municipal Income Fund during the fourth quarter worth $41,000.

About Nuveen Quality Municipal Income Fund

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.