Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Crosses Above 50-Day Moving Average – Here’s Why

Nuveen Quality Municipal Income Fund (NYSE:NAD) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $11.80 and traded as high as $12.04. Nuveen Quality Municipal Income Fund shares last traded at $11.9150, with a volume of 408,082 shares changing hands.

Nuveen Quality Municipal Income Fund Price Performance

The stock has a fifty day moving average price of $11.81 and a two-hundred day moving average price of $11.93.

Nuveen Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a $0.0705 dividend. This represents a c) dividend on an annualized basis and a yield of 7.1%. The ex-dividend date is Monday, June 15th.

Institutional Trading of Nuveen Quality Municipal Income Fund

Hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC lifted its position in Nuveen Quality Municipal Income Fund by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 387,632 shares of the financial services provider’s stock worth $4,458,000 after buying an additional 15,797 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Nuveen Quality Municipal Income Fund during the first quarter valued at about $218,000. Royal Bank of Canada boosted its stake in Nuveen Quality Municipal Income Fund by 7.0% during the 1st quarter. Royal Bank of Canada now owns 962,548 shares of the financial services provider’s stock valued at $11,070,000 after purchasing an additional 62,641 shares during the period. Quantinno Capital Management LP bought a new stake in shares of Nuveen Quality Municipal Income Fund in the first quarter valued at approximately $446,000. Finally, Gateway Wealth Partners LLC bought a new stake in Nuveen Quality Municipal Income Fund in the 1st quarter valued at $115,000.

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.