Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Price Breaks Below 50-Day Moving Average – Here’s What Happened

Nuveen Quality Municipal Income Fund (NYSE:NAD) shares crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $10.54 and traded as low as $10.47. Nuveen Quality Municipal Income Fund shares last traded at $10.4850, with a volume of 1,360,137 shares changing hands.

Nuveen Quality Municipal Income Fund Stock Down 2.1%

The firm has a 50 day moving average of $10.54 and a 200-day moving average of $11.53.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be paid a $0.0705 dividend. This represents a $0.85 annualized dividend and a yield of 8.1%. The ex-dividend date is Friday, November 13th.

Insiders Place Their Bets

In related news, insider Young L. Robert sold 32,727 shares of the business’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $10.32, for a total transaction of $337,742.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Terence J. Toth acquired 7,090 shares of the firm’s stock in a transaction dated Wednesday, October 14th. The stock was bought at an average cost of $10.13 per share, with a total value of $71,821.70. Following the acquisition, the insider owned 11,221 shares in the company, valued at approximately $113,668.73. This trade represents a 171.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Hedge Funds Weigh In On Nuveen Quality Municipal Income Fund

Large investors have recently bought and sold shares of the business. MSH Capital Advisors LLC purchased a new position in Nuveen Quality Municipal Income Fund in the 2nd quarter valued at about $848,000. Focused Alpha LLC purchased a new stake in shares of Nuveen Quality Municipal Income Fund during the 2nd quarter valued at approximately $996,000. Lee Johnson Capital Management LLC purchased a new position in shares of Nuveen Quality Municipal Income Fund during the second quarter worth $186,000. N.E.W. Advisory Services LLC acquired a new position in shares of Nuveen Quality Municipal Income Fund in the second quarter valued at approximately $31,000. Finally, Cura Wealth Advisors LLC purchased a new position in shares of Nuveen Quality Municipal Income Fund in the 2nd quarter valued at about $1,333,000.

About Nuveen Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol NAD. The fund seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in municipal securities issued by states, cities, counties, and other public entities. The fund’s portfolio may include bonds financing public infrastructure and essential services, such as transportation, education, health care, utilities, and water and sewer systems.