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

Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $11.31 and traded as low as $10.40. Nuveen AMT-Free Quality Municipal Income Fund shares last traded at $10.64, with a volume of 2,742,315 shares.

Nuveen AMT-Free Quality Municipal Income Fund Stock Performance

The company’s 50-day moving average is $11.29 and its two-hundred day moving average is $11.46.

Nuveen AMT-Free Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.073 per share. This represents a $0.88 annualized dividend and a yield of 8.26%. The ex-dividend date of this dividend is Tuesday, April 15th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NEA. JPMorgan Chase & Co. acquired a new position in Nuveen AMT-Free Quality Municipal Income Fund in the 3rd quarter valued at approximately $31,000. Fifth Third Bancorp acquired a new position in shares of Nuveen AMT-Free Quality Municipal Income Fund during the fourth quarter valued at about $33,000. American National Bank & Trust bought a new position in Nuveen AMT-Free Quality Municipal Income Fund in the first quarter worth approximately $38,000. Park Square Financial Group LLC acquired a new stake in Nuveen AMT-Free Quality Municipal Income Fund in the 4th quarter valued at $52,000. Finally, WASHINGTON TRUST Co increased its stake in Nuveen AMT-Free Quality Municipal Income Fund by 120.9% during the 4th quarter. WASHINGTON TRUST Co now owns 5,523 shares of the company’s stock valued at $62,000 after purchasing an additional 3,023 shares in 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.