Nuveen AMT-Free Municipal Credit Income Fund (NYSE:NVG) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Nuveen AMT-Free Municipal Credit Income Fund (NYSE:NVG)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.67 and traded as low as $12.36. Nuveen AMT-Free Municipal Credit Income Fund shares last traded at $12.3650, with a volume of 589,278 shares trading hands.

Nuveen AMT-Free Municipal Credit Income Fund Stock Performance

The stock’s fifty day moving average is $12.56 and its two-hundred day moving average is $12.66.

Nuveen AMT-Free Municipal Credit Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.079 per share. This represents a c) dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date is Friday, August 14th.

Insider Buying and Selling at Nuveen AMT-Free Municipal Credit Income Fund

In related news, Portfolio Manager Paul L. Brennan sold 5,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $12.45, for a total value of $62,250.00. Following the sale, the portfolio manager owned 13,050 shares in the company, valued at approximately $162,472.50. This trade represents a 27.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Nuveen AMT-Free Municipal Credit Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVG. Fortitude Advisory Group L.L.C. boosted its position in shares of Nuveen AMT-Free Municipal Credit Income Fund by 4.4% during the fourth quarter. Fortitude Advisory Group L.L.C. now owns 19,083 shares of the company’s stock valued at $242,000 after buying an additional 796 shares during the last quarter. Focus Partners Wealth increased its holdings in Nuveen AMT-Free Municipal Credit Income Fund by 1.3% in the 3rd quarter. Focus Partners Wealth now owns 71,519 shares of the company’s stock worth $879,000 after buying an additional 895 shares in the last quarter. Aurora Private Wealth Inc. raised its position in Nuveen AMT-Free Municipal Credit Income Fund by 5.5% in the 2nd quarter. Aurora Private Wealth Inc. now owns 22,581 shares of the company’s stock worth $289,000 after buying an additional 1,168 shares during the last quarter. XML Financial LLC raised its position in Nuveen AMT-Free Municipal Credit Income Fund by 6.9% in the 4th quarter. XML Financial LLC now owns 18,169 shares of the company’s stock worth $230,000 after buying an additional 1,169 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Nuveen AMT-Free Municipal Credit Income Fund by 65.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,775 shares of the company’s stock valued at $45,000 after acquiring an additional 1,488 shares during the period.

About Nuveen AMT-Free Municipal Credit Income Fund

Nuveen AMT-Free Municipal Credit Income Fund (NYSE: NVG) is a diversified, closed-end management investment company that primarily seeks to provide shareholders with a high level of current income exempt from federal income tax, including the alternative minimum tax. The fund pursues its objective by investing principally in investment-grade and below-investment-grade municipal obligations, with an emphasis on credits that are free from federal income tax. It may also invest up to a limited portion of its assets in municipal lease obligations, variable-rate demand notes, and other municipal derivatives.

As a part of the Nuveen family of investment products, NVG is managed by experienced municipal fixed-income professionals who conduct rigorous credit analysis and portfolio construction.