Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Nuveen Arizona Quality Municipal Income Fund shares recently crossed above their 200-day moving average, trading at $11.88, indicating a positive momentum in the stock's performance.
• The fund announced a monthly dividend of $0.0655 per share, representing an annualized yield of 6.6%, payable on November 3rd to investors of record as of October 15th.
• Institutional investors have increased their stakes in the fund, with Alpha Cubed Investments LLC raising its position by 41.5% during the second quarter, highlighting growing institutional interest.

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ - ) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.81 and traded as high as $12.05. Nuveen Arizona Quality Municipal Income Fund shares last traded at $11.88, with a volume of 20,854 shares changing hands.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

The company's 50-day moving average is $11.82 and its 200-day moving average is $11.81.

Nuveen Arizona Quality Municipal Income Fund Announces Dividend

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

Institutional Investors Weigh In On Nuveen Arizona Quality Municipal Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alpha Cubed Investments LLC increased its position in Nuveen Arizona Quality Municipal Income Fund by 41.5% during the second quarter. Alpha Cubed Investments LLC now owns 118,363 shares of the investment management company's stock worth $1,384,000 after purchasing an additional 34,737 shares during the last quarter. Cetera Investment Advisers increased its position in Nuveen Arizona Quality Municipal Income Fund by 1.7% during the first quarter. Cetera Investment Advisers now owns 105,111 shares of the investment management company's stock worth $1,268,000 after purchasing an additional 1,722 shares during the last quarter. Integrity Alliance LLC. acquired a new stake in Nuveen Arizona Quality Municipal Income Fund during the first quarter worth about $939,000. Raymond James Financial Inc. boosted its stake in Nuveen Arizona Quality Municipal Income Fund by 8.1% during the second quarter. Raymond James Financial Inc. now owns 51,009 shares of the investment management company's stock worth $596,000 after buying an additional 3,813 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Nuveen Arizona Quality Municipal Income Fund by 14.1% during the second quarter. Bank of America Corp DE now owns 37,054 shares of the investment management company's stock valued at $433,000 after acquiring an additional 4,593 shares during the last quarter. 15.28% of the stock is currently owned by institutional investors and hedge funds.

Nuveen Arizona Quality Municipal Income Fund Company Profile

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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