Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Stock Passes Below 50-Day Moving Average – Here’s Why

Shares of Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.42 and traded as low as $11.30. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $11.32, with a volume of 889,198 shares traded.

Nuveen AMT-Free Quality Municipal Income Fund Stock Up 0.0 %

The stock’s 50 day moving average is $11.42 and its two-hundred day moving average is $11.56.

Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.073 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.74%. The ex-dividend date is Friday, March 14th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund during the third quarter worth $31,000. Fifth Third Bancorp purchased a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund in the fourth quarter worth about $33,000. FSA Wealth Management LLC acquired a new position in Nuveen AMT-Free Quality Municipal Income Fund during the third quarter worth about $36,000. Park Square Financial Group LLC purchased a new stake in Nuveen AMT-Free Quality Municipal Income Fund during the 4th quarter valued at about $52,000. Finally, WASHINGTON TRUST Co raised its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 120.9% in the 4th quarter. WASHINGTON TRUST Co now owns 5,523 shares of the company’s stock valued at $62,000 after acquiring an additional 3,023 shares during the last quarter.

About Nuveen AMT-Free Quality Municipal Income Fund

Nuveen AMT-Free Quality Municipal Income Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments Inc The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. It invests in the fixed income markets of the United States. The fund primarily invests in undervalued municipal bonds that are exempt from federal income taxes, including the alternative minimum tax.