Nuveen Quality Municipal Income Fund (NYSE:NAD) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Nuveen Quality Municipal Income Fund (NYSE:NAD)’s stock price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $11.68 and traded as low as $10.06. Nuveen Quality Municipal Income Fund shares last traded at $10.0940, with a volume of 2,764,105 shares trading hands.

Nuveen Quality Municipal Income Fund Stock Performance

The firm has a 50 day simple moving average of $11.41 and a 200-day simple moving average of $11.68.

Nuveen Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.0705 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.85 annualized dividend and a dividend yield of 8.4%.

Hedge Funds Weigh In On Nuveen Quality Municipal Income Fund

Several institutional investors have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. acquired a new position in Nuveen Quality Municipal Income Fund in the second quarter valued at about $333,000. Smith Chas P & Associates PA Cpas acquired a new stake in shares of Nuveen Quality Municipal Income Fund during the second quarter worth approximately $157,000. RFG Advisory LLC increased its holdings in shares of Nuveen Quality Municipal Income Fund by 5.1% during the second quarter. RFG Advisory LLC now owns 52,498 shares of the financial services provider’s stock worth $636,000 after buying an additional 2,552 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Nuveen Quality Municipal Income Fund by 25.5% in the second quarter. NewEdge Advisors LLC now owns 486,357 shares of the financial services provider’s stock valued at $5,895,000 after acquiring an additional 98,725 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in shares of Nuveen Quality Municipal Income Fund by 4.1% in the second quarter. Baird Financial Group Inc. now owns 116,533 shares of the financial services provider’s stock valued at $1,412,000 after acquiring an additional 4,556 shares during the last quarter.

About Nuveen Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund (NYSE: NAD) is a closed-end management investment company designed to provide current income that is exempt from regular federal income tax. The fund invests primarily in municipal securities issued by states, municipalities, public authorities and other governmental entities in the United States.

Its portfolio may include general obligation bonds, revenue bonds and other debt securities used to finance public services and infrastructure, such as transportation, education, utilities and health care facilities.