Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Crosses Below Fifty Day Moving Average – Time to Sell?

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA)’s stock price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $11.72 and traded as low as $11.60. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.6150, with a volume of 706,394 shares changing hands.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

The business’s 50 day simple moving average is $11.72 and its 200-day simple moving average is $11.52.

Nuveen AMT-Free Quality Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be given a dividend of $0.068 per share. The ex-dividend date is Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 7.0%.

Institutional Trading of Nuveen AMT-Free Quality Municipal Income Fund

Several large investors have recently added to or reduced their stakes in the business. Gridiron Partners LLC raised its stake in Nuveen AMT-Free Quality Municipal Income Fund by 638.4% during the 3rd quarter. Gridiron Partners LLC now owns 1,254,447 shares of the company’s stock valued at $14,288,000 after acquiring an additional 1,084,569 shares in the last quarter. Guggenheim Capital LLC grew its stake in shares of Nuveen AMT-Free Quality Municipal Income Fund by 52.0% in the fourth quarter. Guggenheim Capital LLC now owns 2,469,932 shares of the company’s stock worth $28,725,000 after purchasing an additional 845,210 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Nuveen AMT-Free Quality Municipal Income Fund by 145.7% in the second quarter. Rockefeller Capital Management L.P. now owns 1,045,392 shares of the company’s stock worth $11,416,000 after purchasing an additional 619,953 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 151.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 669,776 shares of the company’s stock valued at $7,789,000 after purchasing an additional 403,082 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 19.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,773,541 shares of the company’s stock valued at $20,626,000 after purchasing an additional 289,543 shares during the period.

Nuveen AMT-Free Quality Municipal Income Fund Company Profile

Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA) is a closed-end management investment company that seeks to provide high current income exempt from federal alternative minimum tax. The fund primarily invests in a diversified portfolio of investment-grade municipal bonds, focusing on securities that enjoy strong credit quality and are issued by states, municipalities and public authorities across the United States.

In constructing its portfolio, NEA emphasizes bonds that are rated investment grade by one or more major rating agencies, with an aim to balance income generation and risk management.