Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Share Price Passes Above 50 Day Moving Average – Here’s Why

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA)’s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $11.51 and traded as high as $11.52. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.4550, with a volume of 773,228 shares changing hands.

Nuveen AMT-Free Quality Municipal Income Fund Stock Down 0.1%

The business has a fifty day moving average price of $11.51 and a 200 day moving average price of $11.56.

Nuveen AMT-Free Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were given a $0.068 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 7.1%.

Hedge Funds Weigh In On Nuveen AMT-Free Quality Municipal Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the company. Basepoint Wealth LLC acquired a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund in the fourth quarter valued at approximately $26,000. Noble Wealth Management PBC acquired a new stake in Nuveen AMT-Free Quality Municipal Income Fund during the fourth quarter worth approximately $31,000. Entrust Financial LLC acquired a new stake in Nuveen AMT-Free Quality Municipal Income Fund during the fourth quarter worth approximately $32,000. Pinnacle Bancorp Inc. acquired a new stake in Nuveen AMT-Free Quality Municipal Income Fund during the first quarter worth approximately $41,000. Finally, Fifth Third Bancorp acquired a new stake in Nuveen AMT-Free Quality Municipal Income Fund during the third quarter worth approximately $42,000.

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.