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

Nuveen Quality Municipal Income Fund (NYSE:NAD) crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $10.71 and traded as high as $10.75. Nuveen Quality Municipal Income Fund shares last traded at $10.7350, with a volume of 1,074,744 shares changing hands.

Nuveen Quality Municipal Income Fund Stock Performance

The stock has a 50-day moving average of $10.71 and a two-hundred day moving average of $11.59.

Nuveen Quality Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.0705 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Thursday, October 15th.

Insider Transactions at Nuveen Quality Municipal Income Fund

In other Nuveen Quality Municipal Income Fund news, insider Young L. Robert sold 32,727 shares of Nuveen Quality Municipal Income Fund stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $10.32, for a total value of $337,742.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Terence J. Toth bought 7,090 shares of the firm’s stock in a transaction on Wednesday, October 14th. The shares were bought at an average price of $10.13 per share, with a total value of $71,821.70. Following the completion of the purchase, the insider owned 11,221 shares in the company, valued at approximately $113,668.73. The trade was a 171.63% increase in their position. The SEC filing for this purchase provides additional information.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of NAD. David J Yvars Group increased its holdings in Nuveen Quality Municipal Income Fund by 12.9% during the 2nd quarter. David J Yvars Group now owns 19,300 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 2,200 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in shares of Nuveen Quality Municipal Income Fund in the 1st quarter worth $218,000. Royal Bank of Canada lifted its holdings in shares of Nuveen Quality Municipal Income Fund by 7.0% in the 1st quarter. Royal Bank of Canada now owns 962,548 shares of the financial services provider’s stock worth $11,070,000 after buying an additional 62,641 shares during the period. Gateway Wealth Partners LLC bought a new position in shares of Nuveen Quality Municipal Income Fund during the 1st quarter worth $115,000. Finally, Cetera Investment Advisers grew its position in shares of Nuveen Quality Municipal Income Fund by 4.4% during the 1st quarter. Cetera Investment Advisers now owns 675,745 shares of the financial services provider’s stock worth $7,771,000 after buying an additional 28,591 shares in the last quarter.

Nuveen Quality Municipal Income Fund Company Profile

Nuveen Quality Municipal Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol NAD. The fund seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in municipal securities issued by states, cities, counties, and other public entities.

The fund’s portfolio may include bonds financing public infrastructure and essential services, such as transportation, education, health care, utilities, and water and sewer systems.