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

Shares of Nuveen Quality Municipal Income Fund (NYSE:NAD) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.81 and traded as low as $11.11. Nuveen Quality Municipal Income Fund shares last traded at $11.1250, with a volume of 1,333,696 shares.

Nuveen Quality Municipal Income Fund Stock Up 0.3%

The business’s fifty day moving average is $11.72 and its 200 day moving average is $11.80.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a $0.0705 dividend. This represents a c) dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NAD. N.E.W. Advisory Services LLC purchased a new stake in Nuveen Quality Municipal Income Fund in the 2nd quarter worth about $31,000. Align Financial LLC bought a new stake in Nuveen Quality Municipal Income Fund in the 4th quarter valued at about $35,000. Advocate Investing Services LLC purchased a new stake in Nuveen Quality Municipal Income Fund during the fourth quarter valued at about $41,000. Capital Analysts LLC purchased a new stake in Nuveen Quality Municipal Income Fund during the fourth quarter valued at about $42,000. Finally, Kingdom Financial Group LLC. bought a new position in Nuveen Quality Municipal Income Fund during the fourth quarter worth about $44,000.

About Nuveen Quality Municipal Income Fund

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.