Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $11.82 and traded as high as $12.12. Nuveen Quality Municipal Income Fund shares last traded at $12.1150, with a volume of 732,513 shares.

Nuveen Quality Municipal Income Fund Price Performance

The company’s 50-day moving average is $11.83 and its two-hundred day moving average is $11.92.

Nuveen Quality Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be paid a $0.0705 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 7.0%.

Institutional Investors Weigh In On Nuveen Quality Municipal Income Fund

Hedge funds have recently made changes to their positions in the business. Allworth Financial LP raised its stake in Nuveen Quality Municipal Income Fund by 17.2% during the 4th quarter. Allworth Financial LP now owns 18,424 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 2,700 shares in the last quarter. World Investment Advisors grew its stake in shares of Nuveen Quality Municipal Income Fund by 164.7% in the fourth quarter. World Investment Advisors now owns 28,310 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 17,616 shares in the last quarter. Comerica Bank grew its stake in shares of Nuveen Quality Municipal Income Fund by 36.1% in the fourth quarter. Comerica Bank now owns 59,057 shares of the financial services provider’s stock worth $710,000 after purchasing an additional 15,663 shares in the last quarter. CWM LLC grew its stake in shares of Nuveen Quality Municipal Income Fund by 443.6% in the fourth quarter. CWM LLC now owns 32,615 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 26,615 shares in the last quarter. Finally, McGowan Group Asset Management Inc. increased its holdings in shares of Nuveen Quality Municipal Income Fund by 4.5% during the fourth quarter. McGowan Group Asset Management Inc. now owns 1,362,021 shares of the financial services provider’s stock valued at $16,371,000 after purchasing an additional 58,681 shares during the period.

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.