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

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.85 and traded as low as $10.76. Nuveen Quality Municipal Income Fund shares last traded at $10.81, with a volume of 1,716,829 shares traded.

Nuveen Quality Municipal Income Fund Stock Down 2.7 %

The firm has a 50 day simple moving average of $11.65 and a two-hundred day simple moving average of $11.85.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a $0.0755 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.91 dividend on an annualized basis and a yield of 8.39%.

Hedge Funds Weigh In On Nuveen Quality Municipal Income Fund

Large investors have recently bought and sold shares of the company. Lowe Wealth Advisors LLC boosted its holdings in shares of Nuveen Quality Municipal Income Fund by 76.3% in the first quarter. Lowe Wealth Advisors LLC now owns 2,174 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 941 shares in the last quarter. WASHINGTON TRUST Co purchased a new stake in Nuveen Quality Municipal Income Fund in the 4th quarter valued at approximately $26,000. Hurley Capital LLC purchased a new stake in Nuveen Quality Municipal Income Fund in the 4th quarter valued at approximately $28,000. Minot DeBlois Advisors LLC acquired a new position in Nuveen Quality Municipal Income Fund during the 4th quarter worth approximately $35,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Nuveen Quality Municipal Income Fund by 2,211.5% during the 4th quarter. JPMorgan Chase & Co. now owns 3,606 shares of the financial services provider’s stock worth $42,000 after buying an additional 3,450 shares in the last quarter.

About Nuveen Quality Municipal Income Fund

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.