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

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.95 and traded as low as $11.62. Nuveen Quality Municipal Income Fund shares last traded at $11.63, with a volume of 833,416 shares changing hands.

Nuveen Quality Municipal Income Fund Price Performance

The stock’s fifty day moving average price is $11.76 and its two-hundred day moving average price is $11.94.

Nuveen Quality Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.0755 per share. This represents a $0.91 dividend on an annualized basis and a yield of 7.91%. The ex-dividend date of this dividend is Friday, March 14th.

Hedge Funds Weigh In On Nuveen Quality Municipal Income Fund

Several large investors have recently bought and sold shares of NAD. Cerity Partners LLC grew its stake in Nuveen Quality Municipal Income Fund by 10.8% during the 3rd quarter. Cerity Partners LLC now owns 101,792 shares of the financial services provider’s stock worth $1,260,000 after buying an additional 9,919 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its position in shares of Nuveen Quality Municipal Income Fund by 23.9% during the third quarter. Horizon Kinetics Asset Management LLC now owns 138,117 shares of the financial services provider’s stock worth $1,710,000 after acquiring an additional 26,685 shares during the last quarter. Private Trust Co. NA grew its position in shares of Nuveen Quality Municipal Income Fund by 17.8% during the third quarter. Private Trust Co. NA now owns 7,267 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 1,100 shares during the last quarter. Icon Wealth Advisors LLC acquired a new stake in Nuveen Quality Municipal Income Fund during the 3rd quarter worth $152,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Nuveen Quality Municipal Income Fund during the third quarter worth about $37,000.

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.