Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA)’s stock price crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $10.40 and traded as high as $10.49. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $10.44, with a volume of 1,584,827 shares traded.

Nuveen AMT-Free Quality Municipal Income Fund Stock Up 1.2%

The firm has a fifty day moving average price of $10.40 and a 200 day moving average price of $11.24.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

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 given a dividend of $0.0680 per share. This represents a $0.82 annualized dividend and a dividend yield of 7.8%. The ex-dividend date of this dividend is Thursday, October 15th.

Insider Activity at Nuveen AMT-Free Quality Municipal Income Fund

In other news, Portfolio Manager Michael Hamilton sold 2,676 shares of the firm’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $9.93, for a total transaction of $26,572.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Allied Private Wealth LLC bought a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund during the second quarter worth approximately $72,000. Financial Management Professionals Inc. lifted its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 172.7% during the second quarter. Financial Management Professionals Inc. now owns 6,344 shares of the company’s stock worth $75,000 after purchasing an additional 4,018 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund during the 2nd quarter worth approximately $103,000. Park Avenue Securities LLC bought a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund in the third quarter valued at $113,000. Finally, Smith Chas P & Associates PA Cpas bought a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund in the second quarter valued at approximately $135,000.

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 current income that is exempt from regular U.S. federal income tax and the federal alternative minimum tax applicable to individuals.

The fund invests primarily in a diversified portfolio of municipal securities issued by states, counties, cities, and other public entities across the United States. These securities may finance public infrastructure and services such as transportation, education, healthcare, utilities, and housing.