Nuveen New York Quality Municipal Income Fund (NYSE:NAN) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

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 $11.32 and traded as low as $10.19. Nuveen New York Quality Municipal Income Fund shares last traded at $10.2650, with a volume of 142,785 shares changing hands.

Nuveen New York Quality Municipal Income Fund Trading Down 0.6%

The business has a 50-day moving average price of $11.06 and a two-hundred day moving average price of $11.31.

Nuveen New York Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.068 per share. This represents a c) dividend on an annualized basis and a yield of 8.0%. The ex-dividend date is Tuesday, September 15th.

Hedge Funds Weigh In On Nuveen New York Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in NAN. Hennion & Walsh Asset Management Inc. increased its stake in Nuveen New York Quality Municipal Income Fund by 15.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 601,349 shares of the financial services provider’s stock valued at $7,054,000 after acquiring an additional 81,187 shares during the last quarter. David J Yvars Group bought a new position in shares of Nuveen New York Quality Municipal Income Fund in the 2nd quarter valued at $119,000. NewEdge Advisors LLC increased its stake in shares of Nuveen New York Quality Municipal Income Fund by 8.2% in the 1st quarter. NewEdge Advisors LLC now owns 11,901 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 900 shares during the last quarter. Western Wealth Management LLC acquired a new position in shares of Nuveen New York Quality Municipal Income Fund during the 1st quarter worth $74,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Nuveen New York Quality Municipal Income Fund during the 1st quarter worth $1,857,000.

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.