Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Passes Below 200 Day Moving Average – Here’s Why

Nuveen Quality Municipal Income Fund (NYSE:NAD) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.96 and traded as low as $11.83. Nuveen Quality Municipal Income Fund shares last traded at $11.8850, with a volume of 582,535 shares traded.

Nuveen Quality Municipal Income Fund Stock Down 0.5%

The company has a fifty day simple moving average of $11.80 and a 200-day simple moving average of $11.96.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a dividend of $0.0705 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 7.1%.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of NAD. Independent Financial Group LLC acquired a new position in Nuveen Quality Municipal Income Fund in the 1st quarter valued at about $325,000. Bank of New York Mellon Corp increased its holdings in shares of Nuveen Quality Municipal Income Fund by 23.6% during the 1st quarter. Bank of New York Mellon Corp now owns 43,275 shares of the financial services provider’s stock worth $498,000 after buying an additional 8,268 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Nuveen Quality Municipal Income Fund by 416.9% during the 1st quarter. Fifth Third Bancorp now owns 49,434 shares of the financial services provider’s stock valued at $568,000 after buying an additional 39,871 shares during the period. Kestra Advisory Services LLC lifted its holdings in Nuveen Quality Municipal Income Fund by 4.4% in the first quarter. Kestra Advisory Services LLC now owns 186,831 shares of the financial services provider’s stock valued at $2,149,000 after acquiring an additional 7,942 shares during the last quarter. Finally, Altus Wealth Group LLC lifted its holdings in Nuveen Quality Municipal Income Fund by 54.7% in the first quarter. Altus Wealth Group LLC now owns 15,832 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 5,600 shares during the last quarter.

About Nuveen Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund (NYSE:NAD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds, issued by state and local governments across the United States. By focusing on high-quality issuers, the fund aims to balance income generation with prudent risk management.

Launched in July 2022, NAD is managed by Nuveen Asset Management, a subsidiary of TIAA with decades of experience in municipal bond investing.