Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ) stock price recently crossed above its 200-day moving average, indicating potential upward momentum, with recent trading at $11.88.
• The company has announced a dividend cut, with a recently paid dividend of $0.0655 per share, reflecting an annualized dividend yield of 6.6%.
• Several hedge funds have increased their positions in the fund, notably Alpha Cubed Investments LLC, which boosted its holdings by 41.5% last quarter.

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ - )'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.82 and traded as high as $11.91. Nuveen Arizona Quality Municipal Income Fund shares last traded at $11.88, with a volume of 36,040 shares traded.

Nuveen Arizona Quality Municipal Income Fund Trading Up 0.3%

The company has a fifty day moving average of $11.78 and a 200-day moving average of $11.82.

Nuveen Arizona Quality Municipal Income Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, October 1st. Investors of record on Monday, September 15th were issued a dividend of $0.0655 per share. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date was Monday, September 15th.

Hedge Funds Weigh In On Nuveen Arizona Quality Municipal Income Fund

Several hedge funds have recently bought and sold shares of the business. 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 buying 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 buying an additional 1,722 shares during the last quarter. Integrity Alliance LLC. acquired a new position in Nuveen Arizona Quality Municipal Income Fund during the first quarter worth $939,000. Raymond James Financial Inc. increased its position 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 last quarter. Finally, Bank of America Corp DE increased its position in 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 worth $433,000 after buying an additional 4,593 shares during the last quarter. 15.28% of the stock is 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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