Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.27 and traded as high as $13.33. Nuveen Arizona Quality Municipal Income Fund shares last traded at $13.31, with a volume of 14,418 shares.

Nuveen Arizona Quality Municipal Income Fund Price Performance

The company has a 50-day simple moving average of $12.64 and a 200-day simple moving average of $12.27.

Nuveen Arizona Quality Municipal Income Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a $0.062 dividend. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a yield of 5.6%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC purchased a new position in Nuveen Arizona Quality Municipal Income Fund in the third quarter worth $30,000. CoreCap Advisors LLC increased its holdings in Nuveen Arizona Quality Municipal Income Fund by 125.0% in the fourth 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 in the last quarter. Ameriflex Group Inc. increased its holdings in Nuveen Arizona Quality Municipal Income Fund by 100.0% in the third 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 in the last quarter. Diversify Wealth Management LLC purchased a new position in Nuveen Arizona Quality Municipal Income Fund in the second quarter valued at about $169,000. Finally, NewEdge Advisors LLC purchased a new position in Nuveen Arizona Quality Municipal Income Fund in the first quarter valued at about $211,000. Hedge funds and other institutional investors 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.