Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Crosses Below 50 Day Moving Average – Time to Sell?

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) shares passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $11.70 and traded as low as $11.24. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.2450, with a volume of 1,602,179 shares.

Nuveen AMT-Free Quality Municipal Income Fund Trading Down 2.9%

The company has a fifty day moving average price of $11.70 and a 200 day moving average price of $11.55.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a $0.068 dividend. The ex-dividend date is Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 7.3%.

Institutional Investors Weigh In On Nuveen AMT-Free Quality Municipal Income Fund

Several institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp boosted its position in Nuveen AMT-Free Quality Municipal Income Fund by 917.6% during the 1st quarter. Jones Financial Companies Lllp now owns 75,629 shares of the company’s stock valued at $847,000 after buying an additional 68,197 shares during the period. Goldman Sachs Group Inc. bought a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund during the first quarter valued at about $319,000. Jane Street Group LLC bought a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund during the first quarter valued at about $249,000. Cetera Investment Advisers boosted its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 5.3% during the second quarter. Cetera Investment Advisers now owns 322,983 shares of the company’s stock worth $3,527,000 after purchasing an additional 16,298 shares during the period. Finally, Kingsview Wealth Management LLC grew its stake in shares of Nuveen AMT-Free Quality Municipal Income Fund by 96.7% in the second quarter. Kingsview Wealth Management LLC now owns 63,403 shares of the company’s stock worth $692,000 after purchasing an additional 31,167 shares during the last quarter.

Nuveen AMT-Free Quality Municipal Income Fund Company Profile

Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA) is a closed-end management investment company that seeks to provide high current income exempt from federal alternative minimum tax. The fund primarily invests in a diversified portfolio of investment-grade municipal bonds, focusing on securities that enjoy strong credit quality and are issued by states, municipalities and public authorities across the United States.

In constructing its portfolio, NEA emphasizes bonds that are rated investment grade by one or more major rating agencies, with an aim to balance income generation and risk management.