Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.10 and traded as high as $12.74. Nuveen Arizona Quality Municipal Income Fund shares last traded at $12.61, with a volume of 20,331 shares.

Nuveen Arizona Quality Municipal Income Fund Trading Up 0.2%

The firm has a fifty day moving average price of $12.34 and a 200 day moving average price of $12.10.

Nuveen Arizona Quality Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.0655 per share. This represents a c) annualized dividend and a dividend yield of 6.2%. The ex-dividend date was Wednesday, April 15th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NAZ. LPL Financial LLC raised its holdings in Nuveen Arizona Quality Municipal Income Fund by 129.0% in the 4th quarter. LPL Financial LLC now owns 120,906 shares of the investment management company’s stock valued at $1,436,000 after buying an additional 68,109 shares during the period. Wells Fargo & Company MN raised its holdings in Nuveen Arizona Quality Municipal Income Fund by 27.0% in the 4th quarter. Wells Fargo & Company MN now owns 169,885 shares of the investment management company’s stock valued at $2,018,000 after buying an additional 36,090 shares during the period. NewEdge Advisors LLC purchased a new stake in Nuveen Arizona Quality Municipal Income Fund in the 1st quarter valued at about $211,000. Diversify Wealth Management LLC purchased a new stake in Nuveen Arizona Quality Municipal Income Fund in the 2nd quarter valued at about $169,000. Finally, Bank of America Corp DE raised its holdings in Nuveen Arizona Quality Municipal Income Fund by 14.1% in the 2nd quarter. Bank of America Corp DE now owns 37,054 shares of the investment management company’s stock valued at $433,000 after buying an additional 4,593 shares during the period. Hedge funds and other institutional investors own 15.28% of the company’s stock.

About Nuveen Arizona Quality Municipal Income Fund

Nuveen Arizona Quality Municipal Income Fund (NYSE: NAZ) is a closed-end management investment company that seeks to provide shareholders with a high level of current income that is exempt from regular U.S. federal income tax. Managed by Nuveen Asset Management, the fund focuses on investment-grade municipal obligations issued by or on behalf of entities located in the state of Arizona. Its portfolio typically includes general obligation bonds, revenue bonds and essential-purpose municipal securities backed by state and local governments and quasi-governmental agencies.

The fund employs fundamental credit analysis to select bonds that meet rigorous quality standards, aiming to preserve principal while generating tax-advantaged income.