Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Share Price Crosses Below 50 Day Moving Average – Here’s What Happened

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $10.53 and traded as low as $10.00. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $10.1350, with a volume of 1,770,437 shares trading hands.

Nuveen AMT-Free Quality Municipal Income Fund Stock Down 1.1%

The business’s fifty day moving average price is $10.50 and its 200 day moving average price is $11.14.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be issued a $0.0680 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Thursday, October 15th.

Insider Activity

In related news, Portfolio Manager Michael Hamilton sold 2,676 shares of the stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $9.93, for a total transaction of $26,572.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On Nuveen AMT-Free Quality Municipal Income Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Redhawk Wealth Advisors Inc. increased its position in Nuveen AMT-Free Quality Municipal Income Fund by 1.8% in the second quarter. Redhawk Wealth Advisors Inc. now owns 58,775 shares of the company’s stock worth $690,000 after buying an additional 1,035 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Nuveen AMT-Free Quality Municipal Income Fund by 7.5% during the first quarter. Sunbelt Securities Inc. now owns 16,529 shares of the company’s stock worth $186,000 after acquiring an additional 1,150 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Nuveen AMT-Free Quality Municipal Income Fund by 6.6% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,076 shares of the company’s stock valued at $224,000 after purchasing an additional 1,184 shares during the last quarter. NewEdge Wealth LLC grew its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 1.0% during the 1st quarter. NewEdge Wealth LLC now owns 123,680 shares of the company’s stock valued at $1,389,000 after buying an additional 1,280 shares in the last quarter. Finally, Maridea Wealth Management LLC increased its position in Nuveen AMT-Free Quality Municipal Income Fund by 14.3% in the first quarter. Maridea Wealth Management LLC now owns 11,449 shares of the company’s stock worth $129,000 after purchasing an additional 1,429 shares during the last quarter.

About Nuveen AMT-Free Quality Municipal Income Fund

Nuveen AMT-Free Quality Municipal Income Fund is a closed-end investment fund listed on the New York Stock Exchange under the symbol NEA. The fund seeks to provide current income that is generally exempt from regular federal income tax and the federal alternative minimum tax, while also pursuing the preservation of capital.

The fund invests primarily in municipal bonds and other tax-exempt municipal securities issued by states, local governments and related entities across the United States.