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

Key Points

• The Nuveen Arizona Quality Municipal Income Fund (NYSE: NAZ) stock price recently crossed above its 200-day moving average of $11.91, trading at a high of $11.99.
• The fund declared a monthly dividend of $0.0655 per share, representing a yield of 6.6%, with the ex-dividend date set for September 15th.
• Institutional investors have increased their holdings in the fund during the second quarter, with notable increases from firms like Bank of America Corp and Alpha Cubed Investments.

Nuveen Arizona Quality Municipal Income Fund (NYSE:NAZ - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.91 and traded as high as $11.99. Nuveen Arizona Quality Municipal Income Fund shares last traded at $11.82, with a volume of 30,286 shares trading hands.

Nuveen Arizona Quality Municipal Income Fund Stock Performance

The company's 50 day moving average price is $11.80 and its two-hundred day moving average price is $11.89.

Nuveen Arizona Quality Municipal Income Fund Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.0655 dividend. This represents a c) annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Monday, September 15th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Western Wealth Management LLC increased its position in shares of Nuveen Arizona Quality Municipal Income Fund by 2.5% during the fourth quarter. Western Wealth Management LLC now owns 40,876 shares of the investment management company's stock worth $465,000 after purchasing an additional 987 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of 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 valued at $1,268,000 after buying an additional 1,722 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in shares of Nuveen Arizona Quality Municipal Income Fund by 8.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 26,400 shares of the investment management company's stock valued at $320,000 after buying an additional 2,000 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Nuveen Arizona Quality Municipal Income Fund by 11.1% during the first quarter. Royal Bank of Canada now owns 23,983 shares of the investment management company's stock valued at $289,000 after buying an additional 2,391 shares during the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of 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 valued at $596,000 after buying an additional 3,813 shares during the last quarter. 15.28% of the stock is owned by institutional investors.

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.