Nuveen New York Quality Municipal Income Fund (NYSE:NAN) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

Nuveen New York Quality Municipal Income Fund (NYSE:NAN)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.41 and traded as low as $11.40. Nuveen New York Quality Municipal Income Fund shares last traded at $11.4350, with a volume of 41,201 shares traded.

Nuveen New York Quality Municipal Income Fund Stock Performance

The company’s 50 day moving average price is $11.40 and its two-hundred day moving average price is $11.41.

Nuveen New York Quality Municipal Income Fund Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.068 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 7.1%.

Insider Buying and Selling at Nuveen New York Quality Municipal Income Fund

In other news, major shareholder Of America Corp /De/ Bank purchased 3,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average price of $11.28 per share, with a total value of $33,840.00. Following the transaction, the insider owned 3,000 shares of the company’s stock, valued at $33,840. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Nuveen New York Quality Municipal Income Fund

Hedge funds have recently added to or reduced their stakes in the business. Western Wealth Management LLC bought a new position in Nuveen New York Quality Municipal Income Fund during the 1st quarter worth about $74,000. Steward Partners Investment Advisory LLC lifted its position in shares of Nuveen New York Quality Municipal Income Fund by 11.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,000 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 1,000 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Nuveen New York Quality Municipal Income Fund in the 4th quarter worth approximately $124,000. Jane Street Group LLC bought a new position in shares of Nuveen New York Quality Municipal Income Fund during the fourth quarter valued at approximately $147,000. Finally, &PARTNERS purchased a new position in Nuveen New York Quality Municipal Income Fund during the fourth quarter valued at approximately $147,000.

Nuveen New York Quality Municipal Income Fund Company Profile

The Nuveen New York Quality Municipal Income Fund (NYSE: NAN) is a closed-end management investment company that seeks to provide current income exempt from federal and New York State income taxes. The Fund invests principally in a portfolio of investment-grade municipal obligations issued by or on behalf of the State of New York and its political subdivisions. Through its focus on tax-exempt securities, NAN is designed to offer investors an attractive yield advantage relative to taxable alternatives in the New York market.

The Fund’s portfolio is comprised primarily of general obligation and revenue bonds issued by state and local governments, authorities, agencies and instrumentalities within New York.