Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Nuveen Quality Municipal Income Fund (NYSE:NAD) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.85 and traded as low as $10.76. Nuveen Quality Municipal Income Fund shares last traded at $10.81, with a volume of 1,716,829 shares trading hands.

Nuveen Quality Municipal Income Fund Price Performance

The stock has a 50 day simple moving average of $11.63 and a two-hundred day simple moving average of $11.84.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a $0.0755 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.91 annualized dividend and a dividend yield of 8.32%.

Hedge Funds Weigh In On Nuveen Quality Municipal Income Fund

A number of institutional investors have recently added to or reduced their stakes in NAD. Lowe Wealth Advisors LLC grew its position in shares of Nuveen Quality Municipal Income Fund by 76.3% in the 1st quarter. Lowe Wealth Advisors LLC now owns 2,174 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 941 shares during the period. WASHINGTON TRUST Co acquired a new stake in Nuveen Quality Municipal Income Fund in the 4th quarter valued at about $26,000. Hurley Capital LLC bought a new position in Nuveen Quality Municipal Income Fund during the fourth quarter worth about $28,000. Minot DeBlois Advisors LLC acquired a new position in Nuveen Quality Municipal Income Fund during the fourth quarter worth approximately $35,000. Finally, JPMorgan Chase & Co. raised its stake in Nuveen Quality Municipal Income Fund by 2,211.5% in the fourth quarter. JPMorgan Chase & Co. now owns 3,606 shares of the financial services provider’s stock valued at $42,000 after buying an additional 3,450 shares during the period.

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.