Nuveen New York Quality Municipal Income Fund (NYSE:NAN) Shares Cross Above 50 Day Moving Average – Here’s Why

Nuveen New York Quality Municipal Income Fund (NYSE:NAN) crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $10.13 and traded as high as $10.15. Nuveen New York Quality Municipal Income Fund shares last traded at $10.1410, with a volume of 146,322 shares.

Nuveen New York Quality Municipal Income Fund Price Performance

The stock’s 50 day simple moving average is $10.13 and its two-hundred day simple moving average is $11.10.

Nuveen New York Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a dividend of $0.0680 per share. This represents a $0.82 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend is Friday, November 13th.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NAN. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Nuveen New York Quality Municipal Income Fund by 15.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 601,349 shares of the financial services provider’s stock valued at $7,054,000 after buying an additional 81,187 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Nuveen New York Quality Municipal Income Fund in the 1st quarter valued at about $1,857,000. Breakwater Capital Group raised its stake in Nuveen New York Quality Municipal Income Fund by 425.4% in the third quarter. Breakwater Capital Group now owns 68,842 shares of the financial services provider’s stock valued at $676,000 after purchasing an additional 55,739 shares in the last quarter. Avestar Capital LLC lifted its holdings in shares of Nuveen New York Quality Municipal Income Fund by 20.8% during the 3rd quarter. Avestar Capital LLC now owns 58,084 shares of the financial services provider’s stock worth $574,000 after acquiring an additional 10,000 shares during the last quarter. Finally, NewEdge Wealth LLC lifted its stake in Nuveen New York Quality Municipal Income Fund by 74.1% during the first quarter. NewEdge Wealth LLC now owns 47,000 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 20,000 shares during the last quarter.

About Nuveen New York Quality Municipal Income Fund

Nuveen New York Quality Municipal Income Fund (NYSE: NAN) is a closed-end investment company managed by Nuveen, an asset-management firm specializing in investment solutions. The fund seeks to provide current income that is exempt from regular U.S. federal income tax and New York State and New York City personal income taxes, subject to applicable tax rules.

The fund invests primarily in a diversified portfolio of municipal bonds issued by New York State and its municipalities, agencies, and other public-purpose entities.