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

Nuveen New York Quality Municipal Income Fund (NYSE:NAN)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.41 and traded as low as $11.40. Nuveen New York Quality Municipal Income Fund shares last traded at $11.4350, with a volume of 41,201 shares.

Nuveen New York Quality Municipal Income Fund Trading Down 0.2%

The firm’s fifty day moving average is $11.40 and its 200 day moving average is $11.41.

Nuveen New York Quality Municipal Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a dividend of $0.068 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.1%.

Insider Buying and Selling at Nuveen New York Quality Municipal Income Fund

In other Nuveen New York Quality Municipal Income Fund news, major shareholder Of America Corp /De/ Bank purchased 3,000 shares of Nuveen New York Quality Municipal Income Fund stock in a transaction dated Tuesday, May 19th. The shares were purchased at an average cost of $11.28 per share, for a total transaction of $33,840.00. Following the completion of the acquisition, the insider owned 3,000 shares in the company, valued at $33,840. This represents a ? increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

Hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC lifted its position in shares of Nuveen New York Quality Municipal Income Fund by 11.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,000 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 1,000 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Nuveen New York Quality Municipal Income Fund in the first quarter worth about $74,000. Ashton Thomas Securities LLC bought a new position in shares of Nuveen New York Quality Municipal Income Fund in the first quarter worth about $1,857,000. NewEdge Wealth LLC increased its stake in Nuveen New York Quality Municipal Income Fund by 74.1% in the 1st quarter. NewEdge Wealth LLC now owns 47,000 shares of the financial services provider’s stock worth $524,000 after buying an additional 20,000 shares during the period. Finally, PFG Investments LLC increased its stake in Nuveen New York Quality Municipal Income Fund by 13.0% in the 1st quarter. PFG Investments LLC now owns 37,434 shares of the financial services provider’s stock worth $417,000 after buying an additional 4,316 shares during the period.

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.