Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Passes Below 200-Day Moving Average – Should You Sell?

Nuveen Quality Municipal Income Fund (NYSE:NAD) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 has a fifty day moving average price of $11.77 and a two-hundred day moving average price of $11.95.

Nuveen Quality Municipal Income Fund Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, March 14th. This represents a $0.91 dividend on an annualized basis and a dividend yield of 7.79%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in Nuveen Quality Municipal Income Fund by 39.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 27,876 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 7,852 shares during the period. Palogic Value Management L.P. lifted its holdings in shares of Nuveen Quality Municipal Income Fund by 18.3% in the 4th quarter. Palogic Value Management L.P. now owns 194,439 shares of the financial services provider’s stock worth $2,267,000 after purchasing an additional 30,023 shares during the last quarter. Comprehensive Money Management Services LLC acquired a new position in Nuveen Quality Municipal Income Fund during the 4th quarter valued at approximately $117,000. B. Riley Wealth Advisors Inc. grew its stake in Nuveen Quality Municipal Income Fund by 78.3% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 29,225 shares of the financial services provider’s stock worth $341,000 after buying an additional 12,835 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new position in Nuveen Quality Municipal Income Fund during the 4th quarter worth $53,000.

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.