Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Crosses Below 50-Day Moving Average – Should You Sell?

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) shares crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $11.72 and traded as low as $11.60. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.6150, with a volume of 706,394 shares trading hands.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

The company has a 50 day moving average price of $11.72 and a 200 day moving average price of $11.52.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.068 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) annualized dividend and a yield of 7.0%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Gridiron Partners LLC raised its stake in shares of Nuveen AMT-Free Quality Municipal Income Fund by 638.4% in the 3rd quarter. Gridiron Partners LLC now owns 1,254,447 shares of the company’s stock valued at $14,288,000 after purchasing an additional 1,084,569 shares in the last quarter. Guggenheim Capital LLC grew its stake in 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 worth $28,725,000 after purchasing an additional 845,210 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 145.7% in the second quarter. Rockefeller Capital Management L.P. now owns 1,045,392 shares of the company’s stock valued at $11,416,000 after buying an additional 619,953 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 151.1% in the fourth 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 last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its position 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 valued at $20,626,000 after acquiring an additional 289,543 shares in the last quarter.

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.