Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Shares of Nuveen Quality Municipal Income Fund (NYSE:NAD) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $11.82 and traded as high as $12.12. Nuveen Quality Municipal Income Fund shares last traded at $12.1150, with a volume of 732,513 shares.

Nuveen Quality Municipal Income Fund Trading Up 0.5%

The stock has a fifty day moving average of $11.82 and a 200-day moving average of $11.92.

Nuveen Quality Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a dividend of $0.0705 per share. This represents a c) annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Monday, June 15th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Nuveen Quality Municipal Income Fund in the fourth quarter worth about $32,000. Align Financial LLC bought a new stake in Nuveen Quality Municipal Income Fund during the 4th quarter valued at about $35,000. Noble Wealth Management PBC lifted its holdings in Nuveen Quality Municipal Income Fund by 274.6% during the 4th quarter. Noble Wealth Management PBC now owns 3,233 shares of the financial services provider’s stock valued at $39,000 after buying an additional 2,370 shares in the last quarter. Advocate Investing Services LLC purchased a new stake in Nuveen Quality Municipal Income Fund in the 4th quarter valued at about $41,000. Finally, Ameriflex Group Inc. purchased a new stake in Nuveen Quality Municipal Income Fund in the 3rd quarter valued at about $42,000.

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.