Nuveen Quality Municipal Income Fund (NYSE:NAD) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s stock price crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $10.54 and traded as low as $10.47. Nuveen Quality Municipal Income Fund shares last traded at $10.4850, with a volume of 1,360,137 shares trading hands.

Nuveen Quality Municipal Income Fund Trading Down 2.1%

The business’s 50-day moving average price is $10.54 and its 200 day moving average price is $11.53.

Nuveen Quality Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of $0.0705 per share. This represents a $0.85 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date is Friday, November 13th.

Insider Activity

In related news, insider Young L. Robert sold 32,727 shares of Nuveen Quality Municipal Income Fund stock in a transaction on Friday, October 16th. The shares were sold at an average price of $10.32, for a total value of $337,742.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Terence J. Toth acquired 7,090 shares of the stock in a transaction dated Wednesday, October 14th. The shares were purchased at an average cost of $10.13 per share, with a total value of $71,821.70. Following the completion of the purchase, the insider owned 11,221 shares of the company’s stock, valued at approximately $113,668.73. The trade was a 171.63% increase in their position. The disclosure for this purchase is available in the SEC filing.

Hedge Funds Weigh In On Nuveen Quality Municipal Income Fund

Institutional investors have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. raised its position in shares of Nuveen Quality Municipal Income Fund by 2.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 82,215 shares of the financial services provider’s stock worth $832,000 after purchasing an additional 1,965 shares during the last quarter. TIAA CREF Individual & Institutional Services LLC grew its holdings in shares of Nuveen Quality Municipal Income Fund by 11.6% in the third quarter. TIAA CREF Individual & Institutional Services LLC now owns 30,794 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 3,209 shares during the period. Advisors Asset Management Inc. bought a new stake in shares of Nuveen Quality Municipal Income Fund during the 3rd quarter valued at about $3,541,000. Private Advisor Group LLC increased its holdings in Nuveen Quality Municipal Income Fund by 18.9% during the third quarter. Private Advisor Group LLC now owns 55,898 shares of the financial services provider’s stock valued at $566,000 after buying an additional 8,901 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of Nuveen Quality Municipal Income Fund by 86.1% in the 3rd quarter. Harbour Investments Inc. now owns 4,142 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 1,916 shares in the last quarter.

About Nuveen Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol NAD. The fund seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in municipal securities issued by states, cities, counties, and other public entities. The fund’s portfolio may include bonds financing public infrastructure and essential services, such as transportation, education, health care, utilities, and water and sewer systems.