Nuveen New York Quality Municipal Income Fund (NYSE:NAN) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Nuveen New York Quality Municipal Income Fund (NYSE:NAN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.23 and traded as high as $11.73. Nuveen New York Quality Municipal Income Fund shares last traded at $11.72, with a volume of 73,655 shares.

Nuveen New York Quality Municipal Income Fund Stock Performance

The stock’s 50 day simple moving average is $11.63 and its two-hundred day simple moving average is $11.23.

Nuveen New York Quality Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be paid a $0.072 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.86 dividend on an annualized basis and a yield of 7.37%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its holdings in shares of Nuveen New York Quality Municipal Income Fund by 8.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 59,624 shares of the financial services provider’s stock worth $671,000 after buying an additional 4,446 shares in the last quarter. OMNI 360 Wealth Inc. raised its stake in Nuveen New York Quality Municipal Income Fund by 12.6% during the second quarter. OMNI 360 Wealth Inc. now owns 27,064 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 3,028 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Nuveen New York Quality Municipal Income Fund during the second quarter valued at $123,000. Robinson Capital Management LLC boosted its stake in shares of Nuveen New York Quality Municipal Income Fund by 13.9% in the 1st quarter. Robinson Capital Management LLC now owns 101,483 shares of the financial services provider’s stock valued at $1,082,000 after purchasing an additional 12,400 shares in the last quarter. Finally, Karpus Management Inc. grew its holdings in shares of Nuveen New York Quality Municipal Income Fund by 0.6% in the 1st quarter. Karpus Management Inc. now owns 957,236 shares of the financial services provider’s stock worth $10,482,000 after purchasing an additional 6,177 shares during the last quarter.

About Nuveen New York Quality Municipal Income Fund

Nuveen New York Quality Municipal Income Fund is a closed ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of New York. The fund invests in municipal bonds, with a rating of Baa or higher.