Nuveen New York AMT-Free Quality Municipal Income Fund (NYSE:NRK) Stock Price Breaks Below 200-Day Moving Average – Time to Sell?

Nuveen New York AMT-Free Quality Municipal Income Fund (NYSE:NRK) shares crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $10.27 and traded as low as $9.24. Nuveen New York AMT-Free Quality Municipal Income Fund shares last traded at $9.2650, with a volume of 533,529 shares changing hands.

Nuveen New York AMT-Free Quality Municipal Income Fund Stock Down 0.4%

The firm’s 50 day simple moving average is $9.77 and its 200 day simple moving average is $10.26.

Nuveen New York AMT-Free Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be issued a $0.0655 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 8.5%.

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

Several institutional investors have recently made changes to their positions in NRK. NewEdge Wealth LLC grew its stake in Nuveen New York AMT-Free Quality Municipal Income Fund by 2.4% in the 1st quarter. NewEdge Wealth LLC now owns 71,251 shares of the financial services provider’s stock worth $727,000 after acquiring an additional 1,655 shares in the last quarter. Herold Advisors Inc. raised its holdings in shares of Nuveen New York AMT-Free Quality Municipal Income Fund by 5.2% in the 3rd quarter. Herold Advisors Inc. now owns 36,586 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 1,793 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Nuveen New York AMT-Free Quality Municipal Income Fund by 27.7% during the third quarter. Farther Finance Advisors LLC now owns 8,300 shares of the financial services provider’s stock valued at $77,000 after buying an additional 1,800 shares during the period. Brown Lisle Cummings Inc. raised its stake in Nuveen New York AMT-Free Quality Municipal Income Fund by 41.7% in the third quarter. Brown Lisle Cummings Inc. now owns 7,136 shares of the financial services provider’s stock worth $66,000 after buying an additional 2,100 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in Nuveen New York AMT-Free Quality Municipal Income Fund by 0.6% during the 2nd quarter. HighTower Advisors LLC now owns 440,190 shares of the financial services provider’s stock valued at $4,719,000 after acquiring an additional 2,552 shares in the last quarter.

Nuveen New York AMT-Free Quality Municipal Income Fund Company Profile

Nuveen New York AMT-Free Quality Municipal Income Fund (NYSE:NRK) is a closed-end investment fund managed by Nuveen. The fund seeks to provide current income that is exempt from regular federal income tax and New York State and New York City income taxes, while also pursuing the preservation of capital.

To pursue its objective, the fund invests primarily in municipal securities issued by or on behalf of New York State and its local governments, agencies and other public authorities. These investments may finance public infrastructure and services, including schools, transportation systems, utilities, hospitals and other essential projects.

The fund focuses on municipal bonds that are generally exempt from the federal alternative minimum tax.