Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Crosses Above 50 Day Moving Average – Here’s Why

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.45 and traded as high as $11.65. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.6150, with a volume of 1,169,637 shares trading hands.

Nuveen AMT-Free Quality Municipal Income Fund Stock Up 0.5%

The company’s 50 day moving average is $11.45 and its 200 day moving average is $11.56.

Nuveen AMT-Free Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.068 per share. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 7.0%.

Hedge Funds Weigh In On Nuveen AMT-Free Quality Municipal Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEA. Guggenheim Capital LLC raised its position in Nuveen AMT-Free Quality Municipal Income Fund by 52.0% during the fourth quarter. Guggenheim Capital LLC now owns 2,469,932 shares of the company’s stock worth $28,725,000 after acquiring an additional 845,210 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Nuveen AMT-Free Quality Municipal Income Fund by 151.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 669,776 shares of the company’s stock worth $7,789,000 after acquiring an additional 403,082 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Nuveen AMT-Free Quality Municipal Income Fund by 19.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,773,541 shares of the company’s stock worth $20,626,000 after acquiring an additional 289,543 shares during the last quarter. Raymond James Financial Inc. raised its position in Nuveen AMT-Free Quality Municipal Income Fund by 11.3% during the third quarter. Raymond James Financial Inc. now owns 2,210,688 shares of the company’s stock worth $25,180,000 after acquiring an additional 224,720 shares during the last quarter. Finally, Melone Private Wealth LLC raised its position in Nuveen AMT-Free Quality Municipal Income Fund by 51.3% during the fourth quarter. Melone Private Wealth LLC now owns 651,892 shares of the company’s stock worth $7,582,000 after acquiring an additional 220,961 shares during the last quarter.

Nuveen AMT-Free Quality Municipal Income Fund Company Profile

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.