Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Shares of Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $11.70 and traded as low as $11.24. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.2450, with a volume of 1,602,179 shares.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

The stock has a 50-day moving average price of $11.70 and a 200-day moving average price of $11.55.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.068 per share. The ex-dividend date is Friday, March 13th. This represents a c) annualized dividend and a yield of 7.3%.

Institutional Trading of Nuveen AMT-Free Quality Municipal Income Fund

Several institutional investors have recently added to or reduced their stakes in NEA. Jones Financial Companies Lllp grew its position in shares of Nuveen AMT-Free Quality Municipal Income Fund by 917.6% during the 1st quarter. Jones Financial Companies Lllp now owns 75,629 shares of the company’s stock valued at $847,000 after buying an additional 68,197 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund during the first quarter valued at $319,000. Jane Street Group LLC acquired a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund during the first quarter valued at $249,000. Cetera Investment Advisers grew its position in shares of Nuveen AMT-Free Quality Municipal Income Fund by 5.3% during the second quarter. Cetera Investment Advisers now owns 322,983 shares of the company’s stock worth $3,527,000 after acquiring an additional 16,298 shares during the last quarter. Finally, AlphaCore Capital LLC increased its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 5.0% in the 2nd quarter. AlphaCore Capital LLC now owns 34,785 shares of the company’s stock worth $382,000 after acquiring an additional 1,663 shares during the period.

Nuveen AMT-Free Quality Municipal Income Fund Company Profile

Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA) is a closed-end management investment company that seeks to provide high current income exempt from federal alternative minimum tax. The fund primarily invests in a diversified portfolio of investment-grade municipal bonds, focusing on securities that enjoy strong credit quality and are issued by states, municipalities and public authorities across the United States.

In constructing its portfolio, NEA emphasizes bonds that are rated investment grade by one or more major rating agencies, with an aim to balance income generation and risk management.