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

Shares of Nuveen Quality Municipal Income Fund (NYSE:NAD) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.95 and traded as low as $11.44. Nuveen Quality Municipal Income Fund shares last traded at $11.5850, with a volume of 1,014,998 shares.

Nuveen Quality Municipal Income Fund Price Performance

The stock’s fifty day moving average is $11.72 and its two-hundred day moving average is $11.95.

Nuveen Quality Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a $0.0705 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Friday, May 15th.

Institutional Trading of Nuveen Quality Municipal Income Fund

A number of large investors have recently modified their holdings of the company. Morgan Stanley increased its holdings in shares of Nuveen Quality Municipal Income Fund by 0.7% in the 4th quarter. Morgan Stanley now owns 7,179,292 shares of the financial services provider’s stock worth $86,295,000 after acquiring an additional 46,501 shares during the period. Bank of America Corp DE increased its holdings in shares of Nuveen Quality Municipal Income Fund by 3.5% in the 3rd quarter. Bank of America Corp DE now owns 2,752,323 shares of the financial services provider’s stock worth $32,175,000 after acquiring an additional 92,389 shares during the period. Guggenheim Capital LLC increased its holdings in shares of Nuveen Quality Municipal Income Fund by 45.9% in the 4th quarter. Guggenheim Capital LLC now owns 2,572,898 shares of the financial services provider’s stock worth $30,926,000 after acquiring an additional 809,838 shares during the period. Raymond James Financial Inc. increased its holdings in shares of Nuveen Quality Municipal Income Fund by 22.7% in the 3rd quarter. Raymond James Financial Inc. now owns 2,436,790 shares of the financial services provider’s stock worth $28,486,000 after acquiring an additional 450,413 shares during the period. Finally, McGowan Group Asset Management Inc. increased its holdings in shares of Nuveen Quality Municipal Income Fund by 4.5% in the 4th quarter. McGowan Group Asset Management Inc. now owns 1,362,021 shares of the financial services provider’s stock worth $16,371,000 after acquiring an additional 58,681 shares during the period.

Nuveen Quality Municipal Income Fund Company Profile

Nuveen Quality Municipal Income Fund (NYSE:NAD) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal income taxes. The fund primarily invests in a diversified portfolio of investment-grade municipal securities, including general obligation and revenue bonds, issued by state and local governments across the United States. By focusing on high-quality issuers, the fund aims to balance income generation with prudent risk management.

Launched in July 2022, NAD is managed by Nuveen Asset Management, a subsidiary of TIAA with decades of experience in municipal bond investing.