Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Price Passes Below Fifty Day Moving Average – Here’s What Happened

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA)’s stock price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.62 and traded as low as $10.94. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $10.9550, with a volume of 1,158,112 shares traded.

Nuveen AMT-Free Quality Municipal Income Fund Stock Up 1.5%

The stock’s fifty day simple moving average is $11.61 and its two-hundred day simple moving average is $11.55.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.068 dividend. The ex-dividend date is Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 7.2%.

Institutional Investors Weigh In On Nuveen AMT-Free Quality Municipal Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in NEA. Wells Fargo & Company MN grew its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 4.0% during the 4th quarter. Wells Fargo & Company MN now owns 2,729,208 shares of the company’s stock worth $31,741,000 after purchasing an additional 105,807 shares during the period. Guggenheim Capital LLC raised its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 52.0% in the fourth quarter. Guggenheim Capital LLC now owns 2,469,932 shares of the company’s stock valued at $28,725,000 after buying an additional 845,210 shares during the period. Raymond James Financial Inc. lifted its position in Nuveen AMT-Free Quality Municipal Income Fund by 11.3% during the third quarter. Raymond James Financial Inc. now owns 2,210,688 shares of the company’s stock valued at $25,180,000 after buying an additional 224,720 shares in the last quarter. UBS Group AG lifted its position in Nuveen AMT-Free Quality Municipal Income Fund by 1.2% during the fourth quarter. UBS Group AG now owns 1,795,582 shares of the company’s stock valued at $20,883,000 after buying an additional 20,694 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Nuveen AMT-Free Quality Municipal Income Fund by 19.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,773,541 shares of the company’s stock worth $20,626,000 after buying an additional 289,543 shares during the period.

Nuveen AMT-Free Quality Municipal Income Fund Company Profile

Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA) is a closed-end management investment company that seeks to provide high current income exempt from federal alternative minimum tax. The fund primarily invests in a diversified portfolio of investment-grade municipal bonds, focusing on securities that enjoy strong credit quality and are issued by states, municipalities and public authorities across the United States.

In constructing its portfolio, NEA emphasizes bonds that are rated investment grade by one or more major rating agencies, with an aim to balance income generation and risk management.