Nuveen AMT-Free Municipal Credit Income Fund (NYSE:NVG) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Nuveen AMT-Free Municipal Credit Income Fund (NYSE:NVG)’s share price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $12.41 and traded as low as $10.77. Nuveen AMT-Free Municipal Credit Income Fund shares last traded at $10.7870, with a volume of 2,525,209 shares traded.

Nuveen AMT-Free Municipal Credit Income Fund Price Performance

The company’s fifty day simple moving average is $12.05 and its 200 day simple moving average is $12.41.

Nuveen AMT-Free Municipal Credit Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a dividend of $0.0790 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.95 annualized dividend and a dividend yield of 8.8%.

Insider Buying and Selling

In other news, Portfolio Manager Paul L. Brennan sold 5,000 shares of Nuveen AMT-Free Municipal Credit Income Fund stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $12.45, for a total value of $62,250.00. Following the completion of the sale, the portfolio manager directly owned 13,050 shares in the company, valued at $162,472.50. The trade was a 27.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Investors Weigh In On Nuveen AMT-Free Municipal Credit Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in NVG. Bank of America Corp DE bought a new stake in Nuveen AMT-Free Municipal Credit Income Fund during the second quarter valued at approximately $18,120,000. Artesa Financial Group LLC bought a new stake in shares of Nuveen AMT-Free Municipal Credit Income Fund during the 4th quarter valued at $14,383,000. LaSalle St. Investment Advisors LLC purchased a new stake in shares of Nuveen AMT-Free Municipal Credit Income Fund in the 2nd quarter worth $4,705,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Nuveen AMT-Free Municipal Credit Income Fund by 15.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,210,546 shares of the company’s stock worth $28,295,000 after purchasing an additional 292,523 shares in the last quarter. Finally, Palogic Value Management L.P. bought a new position in Nuveen AMT-Free Municipal Credit Income Fund in the 2nd quarter worth $3,725,000.

About Nuveen AMT-Free Municipal Credit Income Fund

Nuveen AMT-Free Municipal Credit Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol NVG. The fund is managed by Nuveen, an investment management firm and subsidiary of TIAA, and is designed to provide investors with current income that is exempt from regular federal income tax.

The fund invests primarily in municipal securities issued by states, cities, counties, special districts and other governmental entities throughout the United States.