Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.17 and traded as high as $12.86. Nuveen Arizona Quality Municipal Income Fund shares last traded at $12.83, with a volume of 5,324 shares.

Nuveen Arizona Quality Municipal Income Fund Trading Up 0.0%

The business has a fifty day moving average price of $12.48 and a two-hundred day moving average price of $12.18.

Nuveen Arizona Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a dividend of $0.0655 per share. This represents a c) dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Friday, May 15th.

Institutional Trading of Nuveen Arizona Quality Municipal Income Fund

Hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC purchased a new position in shares of Nuveen Arizona Quality Municipal Income Fund in the third quarter valued at approximately $30,000. CoreCap Advisors LLC boosted its position in Nuveen Arizona Quality Municipal Income Fund by 125.0% in the 4th quarter. CoreCap Advisors LLC now owns 4,500 shares of the investment management company’s stock valued at $53,000 after buying an additional 2,500 shares during the period. Ameriflex Group Inc. boosted its position in Nuveen Arizona Quality Municipal Income Fund by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 8,620 shares of the investment management company’s stock valued at $102,000 after buying an additional 4,310 shares during the period. Diversify Wealth Management LLC acquired a new position in shares of Nuveen Arizona Quality Municipal Income Fund in the second quarter worth $169,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Nuveen Arizona Quality Municipal Income Fund in the first quarter worth $211,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

About Nuveen Arizona Quality Municipal Income Fund

Nuveen Arizona Quality Municipal Income Fund (NYSE: NAZ) is a closed-end management investment company that seeks to provide shareholders with a high level of current income that is exempt from regular U.S. federal income tax. Managed by Nuveen Asset Management, the fund focuses on investment-grade municipal obligations issued by or on behalf of entities located in the state of Arizona. Its portfolio typically includes general obligation bonds, revenue bonds and essential-purpose municipal securities backed by state and local governments and quasi-governmental agencies.

The fund employs fundamental credit analysis to select bonds that meet rigorous quality standards, aiming to preserve principal while generating tax-advantaged income.