Nuveen Quality Municipal Income Fund (NYSE:NAD) Shares Cross Below 200-Day Moving Average – Here’s Why

Nuveen Quality Municipal Income Fund (NYSE:NAD) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.68 and traded as low as $11.29. Nuveen Quality Municipal Income Fund shares last traded at $11.31, with a volume of 892,041 shares traded.

Nuveen Quality Municipal Income Fund Stock Down 0.4%

The stock has a fifty day moving average price of $11.33 and a 200-day moving average price of $11.68.

Nuveen Quality Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be issued a $0.0755 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.91 dividend on an annualized basis and a dividend yield of 8.01%.

Hedge Funds Weigh In On Nuveen Quality Municipal Income Fund

A number of hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Nuveen Quality Municipal Income Fund during the 4th quarter valued at $21,625,000. Bramshill Investments LLC increased its holdings in Nuveen Quality Municipal Income Fund by 16.1% during the 4th quarter. Bramshill Investments LLC now owns 4,237,821 shares of the financial services provider’s stock valued at $49,413,000 after purchasing an additional 588,021 shares in the last quarter. GFS Advisors LLC acquired a new stake in Nuveen Quality Municipal Income Fund during the 4th quarter valued at $3,876,000. Cornerstone Advisory LLC increased its holdings in Nuveen Quality Municipal Income Fund by 91.7% during the 1st quarter. Cornerstone Advisory LLC now owns 685,634 shares of the financial services provider’s stock valued at $7,803,000 after purchasing an additional 327,888 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Nuveen Quality Municipal Income Fund by 12.6% during the 4th quarter. Bank of America Corp DE now owns 2,177,137 shares of the financial services provider’s stock valued at $25,385,000 after purchasing an additional 243,658 shares in the last quarter.

About Nuveen Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund invests in undervalued municipal securities and other related investments, the income from which is exempt from regular federal income taxes.