Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.92 and traded as low as $11.92. Nuveen Quality Municipal Income Fund shares last traded at $11.9880, with a volume of 627,055 shares.

Nuveen Quality Municipal Income Fund Stock Performance

The company’s fifty day moving average price is $11.86 and its two-hundred day moving average price is $11.92.

Nuveen Quality Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be issued a dividend of $0.0705 per share. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Wednesday, July 15th.

Hedge Funds Weigh In On Nuveen Quality Municipal Income Fund

Several institutional investors have recently bought and sold shares of the business. Sound Income Strategies LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund during the fourth quarter worth $174,000. Silver Oak Securities Incorporated acquired a new position in Nuveen Quality Municipal Income Fund during the 4th quarter worth about $106,000. DAVENPORT & Co LLC bought a new stake in Nuveen Quality Municipal Income Fund during the 4th quarter worth about $130,000. Spire Wealth Management grew its holdings in Nuveen Quality Municipal Income Fund by 12.0% during the 4th quarter. Spire Wealth Management now owns 42,047 shares of the financial services provider’s stock worth $505,000 after acquiring an additional 4,500 shares during the last quarter. Finally, CoreCap Advisors LLC increased its position in Nuveen Quality Municipal Income Fund by 5.0% in the 4th quarter. CoreCap Advisors LLC now owns 19,797 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 949 shares in the last quarter.

About Nuveen Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund (NYSE:NAD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds, issued by state and local governments across the United States. By focusing on high-quality issuers, the fund aims to balance income generation with prudent risk management.

Launched in July 2022, NAD is managed by Nuveen Asset Management, a subsidiary of TIAA with decades of experience in municipal bond investing.