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

Nuveen Quality Municipal Income Fund (NYSE:NADGet Free Report)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.76 and traded as low as $11.76. Nuveen Quality Municipal Income Fund shares last traded at $11.82, with a volume of 758,988 shares traded.

Nuveen Quality Municipal Income Fund Stock Performance

The business has a 50-day simple moving average of $12.17 and a two-hundred day simple moving average of $11.76.

Nuveen Quality Municipal Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.90 dividend on an annualized basis and a yield of 7.51%.

Hedge Funds Weigh In On Nuveen Quality Municipal Income Fund

A number of large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in shares of Nuveen Quality Municipal Income Fund by 3.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,406,840 shares of the financial services provider’s stock worth $16,122,000 after acquiring an additional 49,220 shares during the period. Private Advisor Group LLC boosted its holdings in Nuveen Quality Municipal Income Fund by 1.2% in the 1st quarter. Private Advisor Group LLC now owns 108,434 shares of the financial services provider’s stock valued at $1,243,000 after purchasing an additional 1,315 shares in the last quarter. Wakefield Asset Management LLLP increased its position in Nuveen Quality Municipal Income Fund by 3.4% during the 1st quarter. Wakefield Asset Management LLLP now owns 154,328 shares of the financial services provider’s stock worth $1,769,000 after purchasing an additional 5,073 shares during the period. Palisade Asset Management LLC purchased a new position in shares of Nuveen Quality Municipal Income Fund during the 1st quarter worth approximately $44,000. Finally, Choreo LLC acquired a new stake in shares of Nuveen Quality Municipal Income Fund in the 1st quarter valued at approximately $465,000.

About Nuveen Quality Municipal Income Fund

(Get Free Report)

Nuveen Quality Municipal Income Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund invests in undervalued municipal securities and other related investments, the income from which is exempt from regular federal income taxes.

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