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

Nuveen Quality Municipal Income Fund (NYSE:NAD – Get Free Report) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.80 and traded as high as $12.04. Nuveen Quality Municipal Income Fund shares last traded at $11.9150, with a volume of 408,082 shares.

Nuveen Quality Municipal Income Fund Price Performance

The company’s 50-day simple moving average is $11.80 and its 200-day simple moving average is $11.93.

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Nuveen Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.0705 dividend. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 7.1%.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

A number of large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in Nuveen Quality Municipal Income Fund by 7.3% in the 1st quarter. Royal Bank of Canada now owns 684,939 shares of the financial services provider’s stock valued at $7,891,000 after buying an additional 46,832 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Nuveen Quality Municipal Income Fund during the first quarter worth about $274,000. Focus Partners Wealth increased its position in shares of Nuveen Quality Municipal Income Fund by 74.5% during the first quarter. Focus Partners Wealth now owns 20,698 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 8,834 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Nuveen Quality Municipal Income Fund by 6.9% in the second quarter. Invesco Ltd. now owns 194,758 shares of the financial services provider’s stock worth $2,199,000 after acquiring an additional 12,620 shares in the last quarter. Finally, Cresset Asset Management LLC lifted its stake in shares of Nuveen Quality Municipal Income Fund by 27.1% in the second quarter. Cresset Asset Management LLC now owns 21,256 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 4,538 shares in the last quarter.

About Nuveen Quality Municipal Income Fund

(Get Free Report)

Nuveen Quality Municipal Income Fund (NYSE:NAD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds, issued by state and local governments across the United States. By focusing on high-quality issuers, the fund aims to balance income generation with prudent risk management.

Launched in July 2022, NAD is managed by Nuveen Asset Management, a subsidiary of TIAA with decades of experience in municipal bond investing.

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