Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Passes Below Fifty Day Moving Average – What’s Next?

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.33 and traded as low as $10.93. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $10.9550, with a volume of 1,920,401 shares changing hands.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

The business has a 50 day simple moving average of $11.30 and a 200-day simple moving average of $11.44.

Nuveen AMT-Free Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a $0.068 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date is Tuesday, September 15th.

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

Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its stake in shares of Nuveen AMT-Free Quality Municipal Income Fund by 4.0% during the 4th quarter. Wells Fargo & Company MN now owns 2,729,208 shares of the company’s stock valued at $31,741,000 after buying an additional 105,807 shares in the last quarter. Guggenheim Capital LLC grew its stake in Nuveen AMT-Free Quality Municipal Income Fund by 52.0% in the 4th quarter. Guggenheim Capital LLC now owns 2,469,932 shares of the company’s stock valued at $28,725,000 after buying an additional 845,210 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 11.3% during the 3rd quarter. Raymond James Financial Inc. now owns 2,210,688 shares of the company’s stock valued at $25,180,000 after acquiring an additional 224,720 shares during the period. Bank of America Corp DE raised its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 2.1% during the 3rd quarter. Bank of America Corp DE now owns 1,627,036 shares of the company’s stock valued at $18,532,000 after acquiring an additional 33,364 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Nuveen AMT-Free Quality Municipal Income Fund by 7.1% during the second quarter. Van ECK Associates Corp now owns 1,413,670 shares of the company’s stock worth $16,596,000 after acquiring an additional 93,741 shares in the last quarter.

About Nuveen AMT-Free Quality Municipal Income Fund

Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA) is a closed-end management investment company that seeks to provide high current income exempt from federal alternative minimum tax. The fund primarily invests in a diversified portfolio of investment-grade municipal bonds, focusing on securities that enjoy strong credit quality and are issued by states, municipalities and public authorities across the United States.

In constructing its portfolio, NEA emphasizes bonds that are rated investment grade by one or more major rating agencies, with an aim to balance income generation and risk management.