Nuveen Quality Municipal Income Fund (NYSE:NAD) Shares Pass Below 200-Day Moving Average – Here’s Why

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.48 and traded as low as $11.34. Nuveen Quality Municipal Income Fund shares last traded at $11.39, with a volume of 801,993 shares trading hands.

Nuveen Quality Municipal Income Fund Stock Performance

The stock has a 50 day simple moving average of $11.25 and a 200-day simple moving average of $11.48.

Nuveen Quality Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were issued a dividend of $0.0755 per share. This represents a $0.91 dividend on an annualized basis and a dividend yield of 7.95%. The ex-dividend date of this dividend was Friday, June 13th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its holdings in shares of Nuveen Quality Municipal Income Fund by 3.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 453,929 shares of the financial services provider’s stock valued at $5,293,000 after purchasing an additional 14,955 shares in the last quarter. Palogic Value Management L.P. lifted its holdings in shares of Nuveen Quality Municipal Income Fund by 18.3% during the fourth quarter. Palogic Value Management L.P. now owns 194,439 shares of the financial services provider’s stock valued at $2,267,000 after purchasing an additional 30,023 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Nuveen Quality Municipal Income Fund by 2.1% during the fourth quarter. Advisors Asset Management Inc. now owns 549,796 shares of the financial services provider’s stock valued at $6,411,000 after purchasing an additional 11,318 shares in the last quarter. VSM Wealth Advisory LLC bought a new position in shares of Nuveen Quality Municipal Income Fund during the fourth quarter valued at $150,000. Finally, Independent Advisor Alliance bought a new position in shares of Nuveen Quality Municipal Income Fund during the fourth quarter valued at $445,000.

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.