Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Short Interest Falls 45.1%

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 1,510,536 shares, a decline of 45.1% from the September 15th total of 2,750,725 shares. Based on an average trading volume of 3,127,279 shares, the days-to-cover ratio is presently 0.5 days.

Insider Activity

In related news, Portfolio Manager Michael Hamilton sold 2,676 shares of the stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $9.93, for a total transaction of $26,572.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NEA. Retirement Planning Group LLC purchased a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund in the 1st quarter worth approximately $242,000. Kestra Advisory Services LLC raised its stake in shares of Nuveen AMT-Free Quality Municipal Income Fund by 59.4% during the 1st quarter. Kestra Advisory Services LLC now owns 439,599 shares of the company’s stock worth $4,966,000 after acquiring an additional 163,738 shares in the last quarter. Integrity Wealth Partners LLC purchased a new stake in Nuveen AMT-Free Quality Municipal Income Fund during the first quarter valued at approximately $824,000. Janney Montgomery Scott LLC lifted its position in Nuveen AMT-Free Quality Municipal Income Fund by 28.5% during the first quarter. Janney Montgomery Scott LLC now owns 292,345 shares of the company’s stock valued at $3,283,000 after acquiring an additional 64,769 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC lifted its position in Nuveen AMT-Free Quality Municipal Income Fund by 5.3% during the first quarter. Eagle Bluffs Wealth Management LLC now owns 678,395 shares of the company’s stock valued at $7,664,000 after acquiring an additional 33,928 shares during the last quarter.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

Nuveen AMT-Free Quality Municipal Income Fund stock traded up $0.14 during midday trading on Thursday, reaching $9.99. 2,133,499 shares of the stock were exchanged, compared to its average volume of 1,102,668. Nuveen AMT-Free Quality Municipal Income Fund has a 52 week low of $9.52 and a 52 week high of $11.90. The company’s fifty day moving average is $10.69 and its 200-day moving average is $11.19.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be paid a $0.0680 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.82 annualized dividend and a yield of 8.2%.

About Nuveen AMT-Free Quality Municipal Income Fund

Nuveen AMT-Free Quality Municipal Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol NEA. The fund seeks to provide current income that is generally exempt from regular federal income tax and the federal alternative minimum tax, while also pursuing the preservation of capital.

The fund invests primarily in municipal bonds and other tax-exempt municipal securities issued by states, local governments and related entities across the United States.