Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Shares Cross Above 50 Day Moving Average – What’s Next?

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.51 and traded as high as $11.75. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.7250, with a volume of 916,651 shares changing hands.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

The stock has a 50-day moving average of $11.51 and a 200 day moving average of $11.56.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be issued a dividend of $0.068 per share. This represents a c) annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Wednesday, July 15th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Guggenheim Capital LLC grew its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 52.0% in the fourth quarter. Guggenheim Capital LLC now owns 2,469,932 shares of the company’s stock valued at $28,725,000 after purchasing an additional 845,210 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Nuveen AMT-Free Quality Municipal Income Fund by 151.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 669,776 shares of the company’s stock valued at $7,789,000 after buying an additional 403,082 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 19.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,773,541 shares of the company’s stock worth $20,626,000 after buying an additional 289,543 shares during the last quarter. Raymond James Financial Inc. increased its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 11.3% during the 3rd quarter. Raymond James Financial Inc. now owns 2,210,688 shares of the company’s stock worth $25,180,000 after buying an additional 224,720 shares during the last quarter. Finally, Melone Private Wealth LLC raised its position in shares of Nuveen AMT-Free Quality Municipal Income Fund by 51.3% during the 4th quarter. Melone Private Wealth LLC now owns 651,892 shares of the company’s stock valued at $7,582,000 after buying an additional 220,961 shares during the period.

About Nuveen AMT-Free Quality Municipal Income Fund

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.