Nuveen Quality Municipal Income Fund (NYSE:NAD) Shares Cross Below 200 Day Moving Average – What’s Next?

Shares of Nuveen Quality Municipal Income Fund (NYSE:NAD) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.76 and traded as low as $11.76. Nuveen Quality Municipal Income Fund shares last traded at $11.82, with a volume of 758,988 shares.

Nuveen Quality Municipal Income Fund Trading Down 0.6 %

The stock’s 50-day moving average price is $12.18 and its 200-day moving average price is $11.76.

Nuveen Quality Municipal Income Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be issued a $0.075 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 7.61%.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

A number of institutional investors have recently added to or reduced their stakes in NAD. Palisade Asset Management LLC bought a new stake in shares of Nuveen Quality Municipal Income Fund during the 1st quarter worth $44,000. NBC Securities Inc. boosted its stake in Nuveen Quality Municipal Income Fund by 87.3% in the third quarter. NBC Securities Inc. now owns 6,772 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 3,156 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Nuveen Quality Municipal Income Fund in the second quarter valued at about $80,000. Rosenberg Matthew Hamilton purchased a new position in Nuveen Quality Municipal Income Fund in the second quarter valued at about $86,000. Finally, American Institute for Advanced Investment Management LLP purchased a new position in Nuveen Quality Municipal Income Fund in the first quarter valued at about $123,000.

Nuveen Quality Municipal Income Fund Company Profile

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.