Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ – Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.31 and traded as high as $12.73. Nuveen Arizona Quality Municipal Income Fund shares last traded at $12.4950, with a volume of 7,388 shares traded.

Nuveen Arizona Quality Municipal Income Fund Price Performance

The firm’s 50 day moving average price is $12.75 and its two-hundred day moving average price is $12.31.

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Nuveen Arizona Quality Municipal Income Fund Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be paid a $0.062 dividend. This represents a c) annualized dividend and a yield of 5.9%. The ex-dividend date of this dividend is Monday, June 15th.

Hedge Funds Weigh In On Nuveen Arizona Quality Municipal Income Fund

Large investors have recently modified their holdings of the company. Western Wealth Management LLC bought a new stake in Nuveen Arizona Quality Municipal Income Fund in the 1st quarter worth about $627,000. Cetera Investment Advisers lifted its position in shares of Nuveen Arizona Quality Municipal Income Fund by 1.5% during the 1st quarter. Cetera Investment Advisers now owns 101,300 shares of the investment management company’s stock worth $1,215,000 after buying an additional 1,542 shares in the last quarter. Independent Financial Group LLC bought a new position in shares of Nuveen Arizona Quality Municipal Income Fund during the 1st quarter worth approximately $245,000. Royal Bank of Canada boosted its stake in shares of Nuveen Arizona Quality Municipal Income Fund by 12.3% in the 4th quarter. Royal Bank of Canada now owns 18,712 shares of the investment management company’s stock worth $222,000 after buying an additional 2,056 shares during the last quarter. Finally, Diversify Wealth Management LLC purchased a new position in shares of Nuveen Arizona Quality Municipal Income Fund in the 2nd quarter worth approximately $169,000. 15.28% of the stock is currently owned by institutional investors.

Nuveen Arizona Quality Municipal Income Fund Company Profile

(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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