Nuveen New York Quality Municipal Income Fund (NYSE:NAN) Share Price Breaks Below 200 Day Moving Average – Time to Sell?

Nuveen New York Quality Municipal Income Fund (NYSE:NAN – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $11.14 and traded as low as $9.54. Nuveen New York Quality Municipal Income Fund shares last traded at $9.6360, with a volume of 179,191 shares traded.

Nuveen New York Quality Municipal Income Fund Price Performance

The stock has a 50 day moving average price of $10.58 and a 200 day moving average price of $11.14.

Nuveen New York Quality Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be paid a $0.0680 dividend. This represents a $0.82 annualized dividend and a yield of 8.5%. The ex-dividend date of this dividend is Thursday, October 15th.

Hedge Funds Weigh In On Nuveen New York Quality Municipal Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Nuveen New York Quality Municipal Income Fund during the 1st quarter valued at $1,857,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Nuveen New York Quality Municipal Income Fund by 15.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 601,349 shares of the financial services provider’s stock worth $7,054,000 after acquiring an additional 81,187 shares in the last quarter. Breakwater Capital Group increased its stake in shares of Nuveen New York Quality Municipal Income Fund by 425.4% in the 3rd quarter. Breakwater Capital Group now owns 68,842 shares of the financial services provider’s stock worth $676,000 after acquiring an additional 55,739 shares in the last quarter. NewEdge Wealth LLC increased its stake in shares of Nuveen New York Quality Municipal Income Fund by 74.1% in the 1st quarter. NewEdge Wealth LLC now owns 47,000 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Farther Finance Advisors LLC purchased a new position in Nuveen New York Quality Municipal Income Fund during the 3rd quarter valued at about $180,000.

Nuveen New York Quality Municipal Income Fund Company Profile

(Get Free Report)

Nuveen New York Quality Municipal Income Fund (NYSE: NAN) is a closed-end management investment company designed to provide current income that is exempt from regular federal income tax and New York State and New York City personal income taxes, subject to applicable restrictions and individual circumstances.

The fund invests primarily in municipal bonds and other fixed-income securities issued by or on behalf of municipalities and governmental entities in New York. Its portfolio may include bonds financing public infrastructure and essential services, such as transportation, education, health care, utilities and housing.

Further Reading

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