Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Share Price Passes Below Fifty Day Moving Average – Should You Sell?

Shares of Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $11.21 and traded as low as $10.50. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $10.6050, with a volume of 1,395,828 shares.

Nuveen AMT-Free Quality Municipal Income Fund Price Performance

The stock has a 50-day simple moving average of $11.19 and a 200-day simple moving average of $11.39.

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 paid a dividend of $0.068 per share. This represents a c) dividend on an annualized basis and a yield of 7.9%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On Nuveen AMT-Free Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of NEA. Smith Chas P & Associates PA Cpas acquired a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund in the 2nd quarter valued at about $135,000. Palogic Value Management L.P. grew its stake in Nuveen AMT-Free Quality Municipal Income Fund by 0.9% in the second quarter. Palogic Value Management L.P. now owns 380,871 shares of the company’s stock worth $4,471,000 after purchasing an additional 3,313 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Nuveen AMT-Free Quality Municipal Income Fund in the second quarter valued at about $387,000. Integrated Wealth Concepts LLC increased its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 14.5% in the second quarter. Integrated Wealth Concepts LLC now owns 16,895 shares of the company’s stock valued at $198,000 after buying an additional 2,140 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in Nuveen AMT-Free Quality Municipal Income Fund by 36.6% during the second quarter. NewEdge Advisors LLC now owns 179,805 shares of the company’s stock valued at $2,111,000 after buying an additional 48,205 shares in the last quarter.

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.