Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.85 and traded as high as $11.97. Nuveen Arizona Quality Municipal Income Fund shares last traded at $11.90, with a volume of 54,559 shares changing hands.

Nuveen Arizona Quality Municipal Income Fund Price Performance

The company has a 50-day moving average price of $11.93 and a 200 day moving average price of $11.85.

Nuveen Arizona Quality Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.0655 dividend. The ex-dividend date was Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 6.6%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Alpha Cubed Investments LLC raised its stake in shares of Nuveen Arizona Quality Municipal Income Fund by 41.5% during the 2nd quarter. Alpha Cubed Investments LLC now owns 118,363 shares of the investment management company’s stock worth $1,384,000 after acquiring an additional 34,737 shares in the last quarter. Integrity Alliance LLC. purchased a new position in Nuveen Arizona Quality Municipal Income Fund in the first quarter worth $939,000. Raymond James Financial Inc. increased its position in shares of Nuveen Arizona Quality Municipal Income Fund by 8.1% during the second quarter. Raymond James Financial Inc. now owns 51,009 shares of the investment management company’s stock worth $596,000 after purchasing an additional 3,813 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Nuveen Arizona Quality Municipal Income Fund by 14.1% during the 2nd quarter. Bank of America Corp DE now owns 37,054 shares of the investment management company’s stock valued at $433,000 after purchasing an additional 4,593 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Nuveen Arizona Quality Municipal Income Fund by 11.1% during the 1st quarter. Royal Bank of Canada now owns 23,983 shares of the investment management company’s stock valued at $289,000 after purchasing an additional 2,391 shares during the last quarter. Hedge funds and other institutional investors own 15.28% of the company’s stock.

About Nuveen Arizona Quality Municipal Income Fund

Nuveen Arizona Quality Municipal Income Fund (NYSE: NAZ) is a closed-end management investment company that seeks to provide shareholders with a high level of current income that is exempt from regular U.S. federal income tax. Managed by Nuveen Asset Management, the fund focuses on investment-grade municipal obligations issued by or on behalf of entities located in the state of Arizona. Its portfolio typically includes general obligation bonds, revenue bonds and essential-purpose municipal securities backed by state and local governments and quasi-governmental agencies.

The fund employs fundamental credit analysis to select bonds that meet rigorous quality standards, aiming to preserve principal while generating tax-advantaged income.