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

Nuveen Quality Municipal Income Fund (NYSE:NAD) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.80 and traded as low as $11.10. Nuveen Quality Municipal Income Fund shares last traded at $11.15, with a volume of 932,293 shares traded.

Nuveen Quality Municipal Income Fund Trading Up 0.6 %

The stock has a 50-day moving average of $11.55 and a 200 day moving average of $11.80.

Nuveen Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.0755 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.91 dividend on an annualized basis and a dividend yield of 8.13%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lowe Wealth Advisors LLC increased its position in Nuveen Quality Municipal Income Fund by 76.3% in the 1st quarter. Lowe Wealth Advisors LLC now owns 2,174 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 941 shares in the last quarter. WASHINGTON TRUST Co acquired a new stake in shares of Nuveen Quality Municipal Income Fund in the fourth quarter valued at approximately $26,000. Hurley Capital LLC bought a new position in Nuveen Quality Municipal Income Fund in the 4th quarter worth approximately $28,000. Minot DeBlois Advisors LLC bought a new position in Nuveen Quality Municipal Income Fund in the 4th quarter worth approximately $35,000. Finally, Farther Finance Advisors LLC lifted its holdings in Nuveen Quality Municipal Income Fund by 2,545.6% during the 1st quarter. Farther Finance Advisors LLC now owns 3,307 shares of the financial services provider’s stock worth $38,000 after buying an additional 3,182 shares in the last quarter.

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.