Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Stock Passes Above 200 Day Moving Average – What’s Next?

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.84 and traded as high as $11.94. Nuveen Arizona Quality Municipal Income Fund shares last traded at $11.94, with a volume of 6,429 shares changing hands.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

The stock’s 50 day moving average price is $11.94 and its 200-day moving average price is $11.84.

Nuveen Arizona Quality Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.0655 per share. This represents a c) annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Monday, December 15th.

Institutional Investors Weigh In On Nuveen Arizona Quality Municipal Income Fund

Hedge funds have recently made changes to their positions in the stock. Alpha Cubed Investments LLC boosted its position in Nuveen Arizona Quality Municipal Income Fund by 41.5% during the second quarter. Alpha Cubed Investments LLC now owns 118,363 shares of the investment management company’s stock valued at $1,384,000 after purchasing an additional 34,737 shares in the last quarter. Integrity Alliance LLC. purchased a new stake in shares of Nuveen Arizona Quality Municipal Income Fund during the first quarter valued at about $939,000. Raymond James Financial Inc. boosted its holdings in shares of Nuveen Arizona Quality Municipal Income Fund by 8.1% in the 2nd quarter. Raymond James Financial Inc. now owns 51,009 shares of the investment management company’s stock valued at $596,000 after buying an additional 3,813 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Nuveen Arizona Quality Municipal Income Fund by 14.1% in the 2nd quarter. Bank of America Corp DE now owns 37,054 shares of the investment management company’s stock valued at $433,000 after buying an additional 4,593 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of Nuveen Arizona Quality Municipal Income Fund by 11.1% in the 1st quarter. Royal Bank of Canada now owns 23,983 shares of the investment management company’s stock worth $289,000 after buying an additional 2,391 shares during the last quarter. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

About Nuveen Arizona Quality Municipal Income Fund

Nuveen Arizona Quality Municipal Income Fund (NYSE: NAZ) is a closed-end management investment company that seeks to provide shareholders with a high level of current income that is exempt from regular U.S. federal income tax. Managed by Nuveen Asset Management, the fund focuses on investment-grade municipal obligations issued by or on behalf of entities located in the state of Arizona. Its portfolio typically includes general obligation bonds, revenue bonds and essential-purpose municipal securities backed by state and local governments and quasi-governmental agencies.

The fund employs fundamental credit analysis to select bonds that meet rigorous quality standards, aiming to preserve principal while generating tax-advantaged income.