Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.96 and traded as high as $12.55. Nuveen Arizona Quality Municipal Income Fund shares last traded at $12.42, with a volume of 30,190 shares.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

The company’s 50 day moving average is $12.10 and its 200 day moving average is $11.97.

Nuveen Arizona Quality Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.0655 per share. The ex-dividend date is Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 6.3%.

Institutional Investors Weigh In On Nuveen Arizona Quality Municipal Income Fund

Hedge funds have recently made changes to their positions in the stock. CoreCap Advisors LLC increased its stake in Nuveen Arizona Quality Municipal Income Fund by 125.0% during the fourth quarter. CoreCap Advisors LLC now owns 4,500 shares of the investment management company’s stock valued at $53,000 after acquiring an additional 2,500 shares during the period. Cetera Investment Advisers lifted its position in shares of Nuveen Arizona Quality Municipal Income Fund by 1.5% in the 4th quarter. Cetera Investment Advisers now owns 99,758 shares of the investment management company’s stock worth $1,185,000 after acquiring an additional 1,509 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Nuveen Arizona Quality Municipal Income Fund by 27.0% during the 4th quarter. Wells Fargo & Company MN now owns 169,885 shares of the investment management company’s stock worth $2,018,000 after purchasing an additional 36,090 shares in the last quarter. LPL Financial LLC increased its position in shares of Nuveen Arizona Quality Municipal Income Fund by 129.0% during the fourth quarter. LPL Financial LLC now owns 120,906 shares of the investment management company’s stock valued at $1,436,000 after purchasing an additional 68,109 shares during the period. Finally, Raymond James Financial Inc. increased its position in shares of Nuveen Arizona Quality Municipal Income Fund by 8.1% during the second quarter. Raymond James Financial Inc. now owns 51,009 shares of the investment management company’s stock valued at $596,000 after purchasing an additional 3,813 shares during the period. Institutional investors own 15.28% of the company’s stock.

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.