Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

Nuveen Quality Municipal Income Fund (NYSE:NAD) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.95 and traded as low as $11.62. Nuveen Quality Municipal Income Fund shares last traded at $11.63, with a volume of 833,416 shares.

Nuveen Quality Municipal Income Fund Stock Performance

The company has a 50 day moving average of $11.76 and a two-hundred day moving average of $11.94.

Nuveen Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.0755 dividend. This represents a $0.91 dividend on an annualized basis and a dividend yield of 7.91%. The ex-dividend date of this dividend is Friday, March 14th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NAD. Wealth Enhancement Advisory Services LLC boosted its position in Nuveen Quality Municipal Income Fund by 39.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,876 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 7,852 shares in the last quarter. Palogic Value Management L.P. raised its position in shares of Nuveen Quality Municipal Income Fund by 18.3% during the 4th quarter. Palogic Value Management L.P. now owns 194,439 shares of the financial services provider’s stock worth $2,267,000 after purchasing an additional 30,023 shares during the last quarter. Comprehensive Money Management Services LLC acquired a new position in shares of Nuveen Quality Municipal Income Fund during the fourth quarter valued at approximately $117,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of Nuveen Quality Municipal Income Fund by 78.3% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 29,225 shares of the financial services provider’s stock worth $341,000 after acquiring an additional 12,835 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new stake in shares of Nuveen Quality Municipal Income Fund during the fourth quarter worth approximately $53,000.

Nuveen Quality Municipal Income Fund Company Profile

Nuveen Quality Municipal Income Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund invests in undervalued municipal securities and other related investments, the income from which is exempt from regular federal income taxes.