Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Share Price Breaks Below 50-Day Moving Average After Insider Selling

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) crossed below its fifty day moving average during trading on Friday following insider selling activity. The stock has a fifty day moving average of $11.04 and traded as low as $9.90. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $9.9750, with a volume of 2,215,134 shares trading hands.

Specifically, Portfolio Manager Michael S. Hamilton sold 2,676 shares of Nuveen AMT-Free Quality Municipal Income Fund stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $9.93, for a total value of $26,572.68. The sale was disclosed in a document filed with the SEC, which is available through this link.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

The business has a fifty day moving average of $11.04 and a 200 day moving average of $11.33.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.0680 per share. This represents a $0.82 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC lifted its position in Nuveen AMT-Free Quality Municipal Income Fund by 59.4% in the 1st quarter. Kestra Advisory Services LLC now owns 439,599 shares of the company’s stock valued at $4,966,000 after acquiring an additional 163,738 shares in the last quarter. Melone Private Wealth LLC increased its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 21.2% in the 2nd quarter. Melone Private Wealth LLC now owns 862,704 shares of the company’s stock worth $10,128,000 after purchasing an additional 150,967 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 30.2% in the 4th quarter. Eagle Bluffs Wealth Management LLC now owns 644,467 shares of the company’s stock worth $7,495,000 after purchasing an additional 149,531 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Nuveen AMT-Free Quality Municipal Income Fund by 119.3% in the second quarter. Envestnet Asset Management Inc. now owns 173,183 shares of the company’s stock worth $2,033,000 after purchasing an additional 94,216 shares during the last quarter. Finally, MBA Advisors LLC purchased a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund in the second quarter worth $1,105,000.

About Nuveen AMT-Free Quality Municipal Income Fund

Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA) is a closed-end management investment company that seeks to provide high current income exempt from federal alternative minimum tax. The fund primarily invests in a diversified portfolio of investment-grade municipal bonds, focusing on securities that enjoy strong credit quality and are issued by states, municipalities and public authorities across the United States.

In constructing its portfolio, NEA emphasizes bonds that are rated investment grade by one or more major rating agencies, with an aim to balance income generation and risk management.