Short Interest in Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Drops By 40.0%

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 216,500 shares, a drop of 40.0% from the February 13th total of 360,700 shares. Based on an average trading volume of 1,087,700 shares, the days-to-cover ratio is presently 0.2 days.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEA. Raymond James Financial Inc. purchased a new stake in Nuveen AMT-Free Quality Municipal Income Fund during the 4th quarter valued at approximately $23,264,000. Wells Fargo & Company MN boosted its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 81.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,997,374 shares of the company’s stock valued at $33,810,000 after purchasing an additional 1,349,195 shares during the last quarter. Bramshill Investments LLC grew its position in shares of Nuveen AMT-Free Quality Municipal Income Fund by 27.5% during the fourth quarter. Bramshill Investments LLC now owns 4,356,813 shares of the company’s stock valued at $49,145,000 after purchasing an additional 939,948 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund in the third quarter worth about $3,677,000. Finally, Broyhill Asset Management bought a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund in the fourth quarter worth about $2,635,000.

Nuveen AMT-Free Quality Municipal Income Fund Price Performance

Shares of NYSE NEA traded down $0.03 during midday trading on Monday, hitting $11.24. 289,369 shares of the company’s stock traded hands, compared to its average volume of 971,258. The firm has a fifty day moving average of $11.43 and a 200 day moving average of $11.57. Nuveen AMT-Free Quality Municipal Income Fund has a 1 year low of $10.53 and a 1 year high of $12.06.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.073 per share. The ex-dividend date is Friday, March 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.80%.

Nuveen AMT-Free Quality Municipal Income Fund Company Profile

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.