Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• NAZ crossed above its 200‑day moving average, trading as high as $12.74 Friday and last at $12.61 versus a 200‑day MA of $12.10 (50‑day MA $12.34), a potential technical breakout.
• The fund paid a monthly dividend of $0.0655 per share on May 1, representing an annualized yield of about 6.2%.
• Several institutions increased holdings—including Wells Fargo and LPL Financial—and institutional/hedge fund ownership stands at roughly 15.28%.

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $12.10 and traded as high as $12.74. Nuveen Arizona Quality Municipal Income Fund shares last traded at $12.61, with a volume of 20,331 shares traded.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

The business has a 50-day moving average price of $12.34 and a 200-day moving average price of $12.10.

Nuveen Arizona Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th were given a dividend of $0.0655 per share. The ex-dividend date was Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its holdings in Nuveen Arizona Quality Municipal Income Fund by 27.0% in the 4th quarter. Wells Fargo & Company MN now owns 169,885 shares of the investment management company's stock valued at $2,018,000 after purchasing an additional 36,090 shares in the last quarter. LPL Financial LLC lifted its holdings in Nuveen Arizona Quality Municipal Income Fund by 129.0% in the 4th quarter. LPL Financial LLC now owns 120,906 shares of the investment management company's stock valued at $1,436,000 after purchasing an additional 68,109 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Nuveen Arizona Quality Municipal Income Fund by 1.5% in the 4th quarter. Cetera Investment Advisers now owns 99,758 shares of the investment management company's stock valued at $1,185,000 after purchasing an additional 1,509 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in Nuveen Arizona Quality Municipal Income Fund by 8.1% in the 2nd quarter. Raymond James Financial Inc. now owns 51,009 shares of the investment management company's stock valued at $596,000 after purchasing an additional 3,813 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in Nuveen Arizona Quality Municipal Income Fund by 7.7% in the 4th quarter. Stifel Financial Corp now owns 39,721 shares of the investment management company's stock valued at $472,000 after purchasing an additional 2,832 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.