Nuveen New York Quality Municipal Income Fund (NYSE:NAN) Stock Crosses Below 200-Day Moving Average – Should You Sell?

Shares of Nuveen New York Quality Municipal Income Fund (NYSE:NAN) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.41 and traded as low as $11.39. Nuveen New York Quality Municipal Income Fund shares last traded at $11.4490, with a volume of 56,374 shares changing hands.

Nuveen New York Quality Municipal Income Fund Price Performance

The company’s 50-day simple moving average is $11.35 and its 200 day simple moving average is $11.41.

Nuveen New York Quality Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a $0.072 dividend. This represents a c) annualized dividend and a yield of 7.5%. The ex-dividend date of this dividend is Friday, May 15th.

Insider Buying and Selling

In other Nuveen New York Quality Municipal Income Fund news, major shareholder Of America Corp /De/ Bank purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $11.28 per share, with a total value of $33,840.00. Following the transaction, the insider directly owned 3,000 shares of the company’s stock, valued at approximately $33,840. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Nuveen New York Quality Municipal Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. boosted its position in Nuveen New York Quality Municipal Income Fund by 83.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 320,552 shares of the financial services provider’s stock valued at $3,609,000 after buying an additional 146,182 shares during the period. Westwood Wealth Management purchased a new position in Nuveen New York Quality Municipal Income Fund in the 4th quarter valued at approximately $717,000. South Shore Capital Advisors purchased a new position in Nuveen New York Quality Municipal Income Fund in the 4th quarter valued at approximately $195,000. PFG Investments LLC boosted its position in Nuveen New York Quality Municipal Income Fund by 16.1% in the 4th quarter. PFG Investments LLC now owns 33,118 shares of the financial services provider’s stock valued at $373,000 after buying an additional 4,590 shares during the period. Finally, GC Wealth Management RIA LLC purchased a new position in Nuveen New York Quality Municipal Income Fund in the 4th quarter valued at approximately $620,000.

About Nuveen New York Quality Municipal Income Fund

The Nuveen New York Quality Municipal Income Fund (NYSE: NAN) is a closed-end management investment company that seeks to provide current income exempt from federal and New York State income taxes. The Fund invests principally in a portfolio of investment-grade municipal obligations issued by or on behalf of the State of New York and its political subdivisions. Through its focus on tax-exempt securities, NAN is designed to offer investors an attractive yield advantage relative to taxable alternatives in the New York market.

The Fund’s portfolio is comprised primarily of general obligation and revenue bonds issued by state and local governments, authorities, agencies and instrumentalities within New York.