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

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA)’s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $11.62 and traded as low as $11.06. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.10, with a volume of 1,071,226 shares changing hands.

Nuveen AMT-Free Quality Municipal Income Fund Price Performance

The business has a 50-day simple moving average of $11.59 and a two-hundred day simple moving average of $11.61.

Nuveen AMT-Free Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $0.073 per share. This represents a $0.88 dividend on an annualized basis and a yield of 7.83%. The ex-dividend date is Friday, December 13th.

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

Large investors have recently modified their holdings of the stock. Coastline Trust Co purchased a new stake in Nuveen AMT-Free Quality Municipal Income Fund during the third quarter valued at about $25,000. Luken Investment Analytics LLC acquired a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund during the second quarter valued at approximately $27,000. Eastern Bank acquired a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund during the third quarter valued at approximately $28,000. FSA Wealth Management LLC purchased a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund in the 3rd quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Nuveen AMT-Free Quality Municipal Income Fund in the 2nd quarter worth approximately $46,000.

About Nuveen AMT-Free Quality Municipal Income Fund

Nuveen AMT-Free Quality Municipal Income Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments Inc The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. It invests in the fixed income markets of the United States. The fund primarily invests in undervalued municipal bonds that are exempt from federal income taxes, including the alternative minimum tax.