Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Breaks Below 200-Day Moving Average – Here’s What Happened

Nuveen Quality Municipal Income Fund (NYSE:NAD) shares passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $11.50 and traded as low as $10.28. Nuveen Quality Municipal Income Fund shares last traded at $10.3850, with a volume of 1,579,990 shares changing hands.

Nuveen Quality Municipal Income Fund Stock Performance

The firm has a 50-day moving average price of $10.94 and a two-hundred day moving average price of $11.50.

Nuveen Quality Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be issued a $0.0705 dividend. This represents a $0.85 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date of this dividend is Thursday, October 15th.

Insider Buying and Selling

In related news, insider Terence J. Toth purchased 7,090 shares of the company’s stock in a transaction on Wednesday, October 14th. The shares were bought at an average cost of $10.13 per share, for a total transaction of $71,821.70. Following the completion of the purchase, the insider directly owned 11,221 shares of the company’s stock, valued at approximately $113,668.73. This trade represents a 171.63% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Trading of Nuveen Quality Municipal Income Fund

Several institutional investors have recently modified their holdings of NAD. Melone Private Wealth LLC boosted its position in shares of Nuveen Quality Municipal Income Fund by 17.2% in the 3rd quarter. Melone Private Wealth LLC now owns 667,338 shares of the financial services provider’s stock valued at $6,753,000 after purchasing an additional 97,841 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Nuveen Quality Municipal Income Fund by 87.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 29,938 shares of the financial services provider’s stock worth $303,000 after buying an additional 13,979 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in Nuveen Quality Municipal Income Fund during the second quarter worth approximately $333,000. Smith Chas P & Associates PA Cpas acquired a new position in Nuveen Quality Municipal Income Fund during the second quarter worth approximately $157,000. Finally, RFG Advisory LLC increased its position in Nuveen Quality Municipal Income Fund by 5.1% during the second quarter. RFG Advisory LLC now owns 52,498 shares of the financial services provider’s stock worth $636,000 after buying an additional 2,552 shares during the period.

About Nuveen Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund (NYSE: NAD) is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax. The fund invests primarily in a diversified portfolio of municipal obligations issued by U.S. states, cities, counties, and other public entities.

The fund’s holdings may include general obligation bonds, revenue bonds, and other tax-exempt municipal securities used to finance public infrastructure and essential services.