Nuveen Quality Municipal Income Fund (NYSE:NAD) Shares Pass Below 200 Day Moving Average – Here’s Why

Nuveen Quality Municipal Income Fund (NYSE:NAD) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.76 and traded as low as $11.76. Nuveen Quality Municipal Income Fund shares last traded at $11.82, with a volume of 758,988 shares traded.

Nuveen Quality Municipal Income Fund Stock Performance

The firm has a 50-day moving average price of $12.17 and a two-hundred day moving average price of $11.76.

Nuveen Quality Municipal Income Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.075 per share. The ex-dividend date is Tuesday, October 15th. This represents a $0.90 annualized dividend and a dividend yield of 7.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Palisade Asset Management LLC acquired a new stake in shares of Nuveen Quality Municipal Income Fund during the first quarter worth about $44,000. International Assets Investment Management LLC acquired a new stake in shares of Nuveen Quality Municipal Income Fund in the second quarter valued at approximately $80,000. NBC Securities Inc. boosted its holdings in shares of Nuveen Quality Municipal Income Fund by 87.3% in the third quarter. NBC Securities Inc. now owns 6,772 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 3,156 shares during the period. Rosenberg Matthew Hamilton purchased a new position in shares of Nuveen Quality Municipal Income Fund during the second quarter worth approximately $86,000. Finally, WMG Financial Advisors LLC acquired a new position in shares of Nuveen Quality Municipal Income Fund in the 2nd quarter valued at $131,000.

About Nuveen Quality Municipal Income Fund

Nuveen Quality Municipal Income Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund invests in undervalued municipal securities and other related investments, the income from which is exempt from regular federal income taxes.