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)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.44 and traded as high as $12.49. Nuveen Arizona Quality Municipal Income Fund shares last traded at $12.48, with a volume of 17,032 shares changing hands.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

The company has a 50 day moving average price of $12.56 and a 200-day moving average price of $12.44.

Nuveen Arizona Quality Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a $0.062 dividend. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, August 14th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. LPL Financial LLC raised its position in shares of Nuveen Arizona Quality Municipal Income Fund by 129.0% in the 4th quarter. LPL Financial LLC now owns 120,906 shares of the investment management company’s stock worth $1,436,000 after acquiring an additional 68,109 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of Nuveen Arizona Quality Municipal Income Fund during the first quarter valued at about $627,000. Wells Fargo & Company MN lifted its position in shares of Nuveen Arizona Quality Municipal Income Fund by 27.0% during the fourth quarter. Wells Fargo & Company MN now owns 169,885 shares of the investment management company’s stock valued at $2,018,000 after buying an additional 36,090 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Nuveen Arizona Quality Municipal Income Fund in the 2nd quarter valued at about $343,000. Finally, Independent Financial Group LLC bought a new stake in shares of Nuveen Arizona Quality Municipal Income Fund in the 1st quarter valued at about $245,000. 15.28% of the stock is 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.