Nuveen New York AMT-Free Quality Municipal Income Fund (NYSE:NRK) Shares Pass Above 200 Day Moving Average – Should You Sell?

Nuveen New York AMT-Free Quality Municipal Income Fund (NYSE:NRK) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.27 and traded as high as $10.35. Nuveen New York AMT-Free Quality Municipal Income Fund shares last traded at $10.3150, with a volume of 339,778 shares.

Nuveen New York AMT-Free Quality Municipal Income Fund Stock Performance

The stock has a 50 day moving average price of $10.40 and a 200 day moving average price of $10.27.

Nuveen New York AMT-Free Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a $0.069 dividend. This represents a c) dividend on an annualized basis and a yield of 8.0%. The ex-dividend date is Friday, May 15th.

Institutional Trading of Nuveen New York AMT-Free Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of NRK. Royal Bank of Canada raised its position in shares of Nuveen New York AMT-Free Quality Municipal Income Fund by 2.3% in the first quarter. Royal Bank of Canada now owns 252,520 shares of the financial services provider’s stock valued at $2,601,000 after purchasing an additional 5,734 shares during the period. Creative Planning bought a new stake in shares of Nuveen New York AMT-Free Quality Municipal Income Fund in the second quarter valued at approximately $112,000. Cetera Investment Advisers raised its position in shares of Nuveen New York AMT-Free Quality Municipal Income Fund by 6.7% in the second quarter. Cetera Investment Advisers now owns 17,174 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 1,077 shares during the period. CWM LLC raised its position in shares of Nuveen New York AMT-Free Quality Municipal Income Fund by 1,205.5% in the third quarter. CWM LLC now owns 3,786 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 3,496 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Nuveen New York AMT-Free Quality Municipal Income Fund by 63.7% in the third quarter. Envestnet Asset Management Inc. now owns 83,131 shares of the financial services provider’s stock valued at $848,000 after purchasing an additional 32,353 shares during the period.

About Nuveen New York AMT-Free Quality Municipal Income Fund

Nuveen New York AMT-Free Quality Municipal Income Fund (NYSE: NRK) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal and New York State personal income taxes, including the alternative minimum tax. The fund primarily invests in investment-grade municipal securities issued by or on behalf of public authorities and municipalities located in New York. Its portfolio is broadly diversified across metropolitan areas, local school districts, transportation authorities and other state and local entities.

Managed by Nuveen Asset Management LLC, a subsidiary of TIAA that specializes in municipal bond investing, NRK employs a disciplined, quality-focused approach to security selection.