Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) stock price surpassed its 200-day moving average, trading as high as $12.03 before closing at $11.99.
• The fund recently declared a monthly dividend of $0.0655 per share, representing an annualized yield of 6.6%, set to be paid on November 3rd.
• Institutional investors showed increased interest, with Bank of America raising its position by 14.1% and Alpha Cubed Investments growing its stake by 41.5% in the second quarter.

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ - )'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.80 and traded as high as $12.03. Nuveen Arizona Quality Municipal Income Fund shares last traded at $11.99, with a volume of 14,700 shares traded.

Nuveen Arizona Quality Municipal Income Fund Price Performance

The firm has a 50-day moving average price of $11.84 and a 200-day moving average price of $11.80.

Nuveen Arizona Quality Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be given a $0.0655 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 6.6%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Nuveen Arizona Quality Municipal Income Fund by 14.1% in the 2nd quarter. Bank of America Corp DE now owns 37,054 shares of the investment management company's stock worth $433,000 after acquiring an additional 4,593 shares in the last quarter. Raymond James Financial Inc. increased its position in Nuveen Arizona Quality Municipal Income Fund by 8.1% during the 2nd quarter. Raymond James Financial Inc. now owns 51,009 shares of the investment management company's stock valued at $596,000 after buying an additional 3,813 shares in the last quarter. Diversify Wealth Management LLC bought a new position in Nuveen Arizona Quality Municipal Income Fund during the 2nd quarter valued at approximately $169,000. Plan Group Financial LLC bought a new position in Nuveen Arizona Quality Municipal Income Fund during the 2nd quarter valued at approximately $139,000. Finally, Alpha Cubed Investments LLC increased its position in Nuveen Arizona Quality Municipal Income Fund by 41.5% during the 2nd quarter. Alpha Cubed Investments LLC now owns 118,363 shares of the investment management company's stock valued at $1,384,000 after buying an additional 34,737 shares in the last quarter. Institutional investors own 15.28% of the company's stock.

About Nuveen Arizona Quality Municipal Income Fund

Nuveen Arizona Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is managed by Nuveen Asset Management, LLC. It invests in the fixed income markets of Arizona. The fund invests in municipal securities and other related investments the income, exempt from regular federal and Arizona income taxes that are rated Baa or BBB or better and having an average maturity of 18.66 years.

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