Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Shares Cross Above Fifty Day Moving Average – What’s Next?

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $11.49 and traded as high as $11.61. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.6050, with a volume of 566,517 shares changing hands.

Nuveen AMT-Free Quality Municipal Income Fund Trading Up 0.1%

The firm’s fifty day moving average price is $11.49 and its 200-day moving average price is $11.56.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a dividend of $0.068 per share. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date is Monday, June 15th.

Hedge Funds Weigh In On Nuveen AMT-Free Quality Municipal Income Fund

Several large investors have recently added to or reduced their stakes in the company. Guggenheim Capital LLC grew its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 52.0% during the 4th quarter. Guggenheim Capital LLC now owns 2,469,932 shares of the company’s stock worth $28,725,000 after purchasing an additional 845,210 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Nuveen AMT-Free Quality Municipal Income Fund by 151.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 669,776 shares of the company’s stock valued at $7,789,000 after purchasing an additional 403,082 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Nuveen AMT-Free Quality Municipal Income Fund by 19.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,773,541 shares of the company’s stock worth $20,626,000 after purchasing an additional 289,543 shares during the period. Raymond James Financial Inc. lifted its position in Nuveen AMT-Free Quality Municipal Income Fund by 11.3% in the third quarter. Raymond James Financial Inc. now owns 2,210,688 shares of the company’s stock worth $25,180,000 after purchasing an additional 224,720 shares during the period. Finally, Melone Private Wealth LLC boosted its stake in Nuveen AMT-Free Quality Municipal Income Fund by 51.3% during the fourth quarter. Melone Private Wealth LLC now owns 651,892 shares of the company’s stock worth $7,582,000 after buying an additional 220,961 shares in the last quarter.

About Nuveen AMT-Free Quality Municipal Income Fund

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.