Short Interest in Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) Increases By 134.8%
by Mitch Edgeman · The Markets DailyNuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA – Get Free Report) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 609,625 shares, an increase of 134.8% from the November 30th total of 259,676 shares. Based on an average daily volume of 1,073,636 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 1,073,636 shares, the short-interest ratio is currently 0.6 days.
Nuveen AMT-Free Quality Municipal Income Fund Stock Performance
Shares of NYSE NEA traded down $0.02 during mid-day trading on Friday, reaching $11.55. 980,242 shares of the company were exchanged, compared to its average volume of 1,006,573. The company’s 50-day simple moving average is $11.53 and its 200-day simple moving average is $11.20. Nuveen AMT-Free Quality Municipal Income Fund has a twelve month low of $10.00 and a twelve month high of $11.72.
Nuveen AMT-Free Quality Municipal Income Fund Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.068 per share. The ex-dividend date is Monday, December 15th. This represents a c) annualized dividend and a yield of 7.1%.
Hedge Funds Weigh In On Nuveen AMT-Free Quality Municipal Income Fund
Several institutional investors and hedge funds have recently made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in Nuveen AMT-Free Quality Municipal Income Fund by 49.3% during the 2nd quarter. Fortitude Family Office LLC now owns 3,030 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares during the last quarter. Traub Capital Management LLC bought a new position in Nuveen AMT-Free Quality Municipal Income Fund during the 2nd quarter worth $34,000. WPG Advisers LLC acquired a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund during the first quarter worth $39,000. Fifth Third Bancorp acquired a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund during the third quarter worth $42,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Nuveen AMT-Free Quality Municipal Income Fund in the second quarter valued at about $46,000.
Nuveen AMT-Free Quality Municipal Income Fund Company Profile
Nuveen AMT-Free Quality Municipal Income Fund (NYSE: NEA) is a closed-end management investment company that seeks to provide high current income exempt from federal alternative minimum tax. The fund primarily invests in a diversified portfolio of investment-grade municipal bonds, focusing on securities that enjoy strong credit quality and are issued by states, municipalities and public authorities across the United States.
In constructing its portfolio, NEA emphasizes bonds that are rated investment grade by one or more major rating agencies, with an aim to balance income generation and risk management.