Nuveen AMT-Free Municipal Credit Income Fund (NYSE:NVG) Shares Pass Below 200-Day Moving Average – Here’s Why

Nuveen AMT-Free Municipal Credit Income Fund (NYSE:NVG)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.48 and traded as low as $11.36. Nuveen AMT-Free Municipal Credit Income Fund shares last traded at $11.5450, with a volume of 668,604 shares traded.

Nuveen AMT-Free Municipal Credit Income Fund Price Performance

The company has a 50 day simple moving average of $12.21 and a 200-day simple moving average of $12.47.

Nuveen AMT-Free Municipal Credit Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.079 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date is Tuesday, September 15th.

Insider Activity

In other news, Portfolio Manager Paul L. Brennan sold 5,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $12.45, for a total value of $62,250.00. Following the completion of the sale, the portfolio manager owned 13,050 shares of the company’s stock, valued at approximately $162,472.50. This represents a 27.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of Nuveen AMT-Free Municipal Credit Income Fund

Several hedge funds have recently added to or reduced their stakes in NVG. Smith Chas P & Associates PA Cpas bought a new position in shares of Nuveen AMT-Free Municipal Credit Income Fund during the second quarter valued at about $151,000. Palogic Value Management L.P. lifted its stake in shares of Nuveen AMT-Free Municipal Credit Income Fund by 2.6% in the 2nd quarter. Palogic Value Management L.P. now owns 291,032 shares of the company’s stock valued at $3,725,000 after acquiring an additional 7,300 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Nuveen AMT-Free Municipal Credit Income Fund by 4.5% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 40,713 shares of the company’s stock valued at $521,000 after acquiring an additional 1,766 shares during the period. RFG Advisory LLC boosted its holdings in Nuveen AMT-Free Municipal Credit Income Fund by 19.7% during the 2nd quarter. RFG Advisory LLC now owns 34,901 shares of the company’s stock valued at $447,000 after acquiring an additional 5,735 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Nuveen AMT-Free Municipal Credit Income Fund by 21.3% during the 2nd quarter. NewEdge Advisors LLC now owns 150,098 shares of the company’s stock valued at $1,921,000 after acquiring an additional 26,318 shares during the period.

About Nuveen AMT-Free Municipal Credit Income Fund

Nuveen AMT-Free Municipal Credit Income Fund (NYSE: NVG) is a diversified, closed-end management investment company that primarily seeks to provide shareholders with a high level of current income exempt from federal income tax, including the alternative minimum tax. The fund pursues its objective by investing principally in investment-grade and below-investment-grade municipal obligations, with an emphasis on credits that are free from federal income tax. It may also invest up to a limited portion of its assets in municipal lease obligations, variable-rate demand notes, and other municipal derivatives.

As a part of the Nuveen family of investment products, NVG is managed by experienced municipal fixed-income professionals who conduct rigorous credit analysis and portfolio construction.