Nuveen Quality Municipal Income Fund (NYSE:NAD) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Nuveen Quality Municipal Income Fund (NYSE:NAD) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.92 and traded as low as $11.92. Nuveen Quality Municipal Income Fund shares last traded at $11.9880, with a volume of 627,055 shares traded.

Nuveen Quality Municipal Income Fund Stock Down 0.4%

The company has a 50-day simple moving average of $11.87 and a two-hundred day simple moving average of $11.92.

Nuveen Quality Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.0705 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 7.1%.

Institutional Trading of Nuveen Quality Municipal Income Fund

A number of large investors have recently modified their holdings of the company. Allworth Financial LP increased its stake in shares of Nuveen Quality Municipal Income Fund by 17.2% in the fourth quarter. Allworth Financial LP now owns 18,424 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 2,700 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund during the fourth quarter valued at approximately $186,000. CWM LLC boosted its position in shares of Nuveen Quality Municipal Income Fund by 443.6% during the fourth quarter. CWM LLC now owns 32,615 shares of the financial services provider’s stock worth $392,000 after buying an additional 26,615 shares during the period. McGowan Group Asset Management Inc. boosted its position in shares of Nuveen Quality Municipal Income Fund by 4.5% during the fourth quarter. McGowan Group Asset Management Inc. now owns 1,362,021 shares of the financial services provider’s stock worth $16,371,000 after buying an additional 58,681 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Nuveen Quality Municipal Income Fund by 1,267.4% in the 4th quarter. Farther Finance Advisors LLC now owns 45,780 shares of the financial services provider’s stock worth $550,000 after buying an additional 42,432 shares in the last quarter.

Nuveen Quality Municipal Income Fund Company Profile

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.