Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Sees Large Decline in Short Interest

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 1,510,536 shares, a drop of 45.1% from the September 15th total of 2,750,725 shares. Based on an average daily volume of 3,127,279 shares, the days-to-cover ratio is currently 0.5 days.

Insider Activity at Nuveen AMT-Free Quality Municipal Income Fund

In other news, Portfolio Manager Michael Hamilton sold 2,676 shares of Nuveen AMT-Free Quality Municipal Income Fund stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $9.93, for a total transaction of $26,572.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Nuveen AMT-Free Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC boosted its stake in Nuveen AMT-Free Quality Municipal Income Fund by 59.4% during the 1st quarter. Kestra Advisory Services LLC now owns 439,599 shares of the company’s stock worth $4,966,000 after purchasing an additional 163,738 shares during the last quarter. Melone Private Wealth LLC grew its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 21.2% during the second quarter. Melone Private Wealth LLC now owns 862,704 shares of the company’s stock worth $10,128,000 after buying an additional 150,967 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Nuveen AMT-Free Quality Municipal Income Fund by 119.3% in the second quarter. Envestnet Asset Management Inc. now owns 173,183 shares of the company’s stock valued at $2,033,000 after buying an additional 94,216 shares during the last quarter. MBA Advisors LLC acquired a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund in the second quarter valued at about $1,105,000. Finally, Van ECK Associates Corp raised its position in shares of Nuveen AMT-Free Quality Municipal Income Fund by 7.1% in the second quarter. Van ECK Associates Corp now owns 1,413,670 shares of the company’s stock valued at $16,596,000 after buying an additional 93,741 shares during the last quarter.

Nuveen AMT-Free Quality Municipal Income Fund Stock Up 1.4%

NEA stock traded up $0.14 during midday trading on Thursday, hitting $9.99. 2,133,499 shares of the stock traded hands, compared to its average volume of 1,102,668. The stock’s fifty day simple moving average is $10.69 and its 200-day simple moving average is $11.19. Nuveen AMT-Free Quality Municipal Income Fund has a 1-year low of $9.52 and a 1-year high of $11.90.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be given a dividend of $0.0680 per share. This represents a $0.82 annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Thursday, October 15th.

About Nuveen AMT-Free Quality Municipal Income Fund

Nuveen AMT-Free Quality Municipal Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol NEA. The fund seeks to provide current income that is generally exempt from regular federal income tax and the federal alternative minimum tax, while also pursuing the preservation of capital.

The fund invests primarily in municipal bonds and other tax-exempt municipal securities issued by states, local governments and related entities across the United States.