Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZGet Free Report)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.27 and traded as high as $13.33. Nuveen Arizona Quality Municipal Income Fund shares last traded at $13.31, with a volume of 14,418 shares.

Nuveen Arizona Quality Municipal Income Fund Trading Down 0.5%

The company has a 50-day moving average price of $12.69 and a 200-day moving average price of $12.29.

Nuveen Arizona Quality Municipal Income Fund Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a $0.062 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%.

Institutional Trading of Nuveen Arizona Quality Municipal Income Fund

Large investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC acquired a new stake in shares of Nuveen Arizona Quality Municipal Income Fund in the 3rd quarter valued at about $30,000. CoreCap Advisors LLC boosted its position in shares of Nuveen Arizona Quality Municipal Income Fund by 125.0% in the 4th quarter. CoreCap Advisors LLC now owns 4,500 shares of the investment management company’s stock valued at $53,000 after purchasing an additional 2,500 shares during the period. Ameriflex Group Inc. boosted its position in shares of Nuveen Arizona Quality Municipal Income Fund by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 8,620 shares of the investment management company’s stock valued at $102,000 after purchasing an additional 4,310 shares during the period. Diversify Wealth Management LLC acquired a new stake in shares of Nuveen Arizona Quality Municipal Income Fund in the 2nd quarter valued at about $169,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Nuveen Arizona Quality Municipal Income Fund in the 1st quarter valued at about $211,000. 15.28% of the stock is owned by institutional investors and hedge funds.

About Nuveen Arizona Quality Municipal Income Fund

(Get Free Report)

Nuveen Arizona Quality Municipal Income Fund (NYSE: NAZ) is a closed-end management investment company that seeks to provide shareholders with a high level of current income that is exempt from regular U.S. federal income tax. Managed by Nuveen Asset Management, the fund focuses on investment-grade municipal obligations issued by or on behalf of entities located in the state of Arizona. Its portfolio typically includes general obligation bonds, revenue bonds and essential-purpose municipal securities backed by state and local governments and quasi-governmental agencies.

The fund employs fundamental credit analysis to select bonds that meet rigorous quality standards, aiming to preserve principal while generating tax-advantaged income.

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