Nuveen New York Quality Municipal Income Fund (NYSE:NAN) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

Shares of Nuveen New York Quality Municipal Income Fund (NYSE:NAN) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.41 and traded as low as $11.39. Nuveen New York Quality Municipal Income Fund shares last traded at $11.4490, with a volume of 56,374 shares traded.

Nuveen New York Quality Municipal Income Fund Trading Up 0.3%

The firm’s fifty day moving average is $11.34 and its 200 day moving average is $11.41.

Nuveen New York Quality Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a dividend of $0.072 per share. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Friday, May 15th.

Insider Activity at Nuveen New York Quality Municipal Income Fund

In related news, major shareholder Of America Corp /De/ Bank purchased 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $11.28 per share, for a total transaction of $33,840.00. Following the completion of the acquisition, the insider owned 3,000 shares in the company, valued at $33,840. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Trading of Nuveen New York Quality Municipal Income Fund

Several institutional investors have recently made changes to their positions in NAN. Cresset Asset Management LLC acquired a new stake in shares of Nuveen New York Quality Municipal Income Fund during the second quarter worth approximately $251,000. Wealth Enhancement Advisory Services LLC raised its position in Nuveen New York Quality Municipal Income Fund by 67.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 24,953 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 10,023 shares in the last quarter. PFG Investments LLC raised its position in Nuveen New York Quality Municipal Income Fund by 28.6% during the third quarter. PFG Investments LLC now owns 28,528 shares of the financial services provider’s stock valued at $326,000 after acquiring an additional 6,350 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Nuveen New York Quality Municipal Income Fund by 4.9% during the third quarter. Envestnet Asset Management Inc. now owns 43,503 shares of the financial services provider’s stock valued at $497,000 after acquiring an additional 2,044 shares in the last quarter. Finally, Avestar Capital LLC raised its position in Nuveen New York Quality Municipal Income Fund by 9.4% during the third quarter. Avestar Capital LLC now owns 37,084 shares of the financial services provider’s stock valued at $427,000 after acquiring an additional 3,200 shares in the last quarter.

About Nuveen New York Quality Municipal Income Fund

The Nuveen New York Quality Municipal Income Fund (NYSE: NAN) is a closed-end management investment company that seeks to provide current income exempt from federal and New York State income taxes. The Fund invests principally in a portfolio of investment-grade municipal obligations issued by or on behalf of the State of New York and its political subdivisions. Through its focus on tax-exempt securities, NAN is designed to offer investors an attractive yield advantage relative to taxable alternatives in the New York market.

The Fund’s portfolio is comprised primarily of general obligation and revenue bonds issued by state and local governments, authorities, agencies and instrumentalities within New York.