Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Price Breaks Below 50 Day Moving Average – Here’s Why

Shares of Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $10.71 and traded as low as $9.90. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $10.0040, with a volume of 2,621,673 shares traded.

Nuveen AMT-Free Quality Municipal Income Fund Price Performance

The firm’s fifty day moving average price is $10.66 and its 200 day moving average price is $11.19.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be given a $0.0680 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Thursday, October 15th.

Insider Buying and Selling

In related news, Portfolio Manager Michael Hamilton sold 2,676 shares of the stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $9.93, for a total transaction of $26,572.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Nuveen AMT-Free Quality Municipal Income Fund

A number of large investors have recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund in the first quarter valued at $41,000. Allied Private Wealth LLC bought a new stake in Nuveen AMT-Free Quality Municipal Income Fund in the second quarter worth $72,000. Financial Management Professionals Inc. increased its position in Nuveen AMT-Free Quality Municipal Income Fund by 172.7% in the second quarter. Financial Management Professionals Inc. now owns 6,344 shares of the company’s stock worth $75,000 after purchasing an additional 4,018 shares during the last quarter. Centaurus Financial Inc. bought a new stake in Nuveen AMT-Free Quality Municipal Income Fund in the second quarter worth $103,000. Finally, Maridea Wealth Management LLC raised its stake in Nuveen AMT-Free Quality Municipal Income Fund by 14.3% during the first quarter. Maridea Wealth Management LLC now owns 11,449 shares of the company’s stock valued at $129,000 after purchasing an additional 1,429 shares in the last quarter.

Nuveen AMT-Free Quality Municipal Income Fund Company Profile

Nuveen AMT-Free Quality Municipal Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol NEA. The fund seeks to provide current income that is generally exempt from regular federal income tax and the federal alternative minimum tax, while also pursuing the preservation of capital.

The fund invests primarily in municipal bonds and other tax-exempt municipal securities issued by states, local governments and related entities across the United States.