Nuveen AMT-Free Municipal Credit Income Fund (NYSE:NVG) Shares Cross Below 200-Day Moving Average – Time to Sell?
by Doug Wharley · The Cerbat GemNuveen AMT-Free Municipal Credit Income Fund (NYSE:NVG – Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.70 and traded as low as $12.10. Nuveen AMT-Free Municipal Credit Income Fund shares last traded at $12.2750, with a volume of 803,619 shares trading hands.
Nuveen AMT-Free Municipal Credit Income Fund Price Performance
The stock’s 50-day simple moving average is $12.51 and its 200 day simple moving average is $12.70.
Nuveen AMT-Free Municipal Credit Income Fund Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a $0.079 dividend. The ex-dividend date is Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 7.7%.
Hedge Funds Weigh In On Nuveen AMT-Free Municipal Credit Income Fund
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortitude Advisory Group L.L.C. boosted its position in Nuveen AMT-Free Municipal Credit Income Fund by 4.4% in the fourth quarter. Fortitude Advisory Group L.L.C. now owns 19,083 shares of the company’s stock valued at $242,000 after buying an additional 796 shares in the last quarter. Focus Partners Wealth boosted its position in Nuveen AMT-Free Municipal Credit Income Fund by 1.3% in the third quarter. Focus Partners Wealth now owns 71,519 shares of the company’s stock valued at $879,000 after buying an additional 895 shares in the last quarter. Savvy Advisors Inc. boosted its position in Nuveen AMT-Free Municipal Credit Income Fund by 6.0% in the fourth quarter. Savvy Advisors Inc. now owns 17,613 shares of the company’s stock valued at $223,000 after buying an additional 993 shares in the last quarter. Community Bank N.A. boosted its position in Nuveen AMT-Free Municipal Credit Income Fund by 20.0% in the third quarter. Community Bank N.A. now owns 6,000 shares of the company’s stock valued at $74,000 after buying an additional 1,000 shares in the last quarter. Finally, XML Financial LLC boosted its position in Nuveen AMT-Free Municipal Credit Income Fund by 6.9% in the fourth quarter. XML Financial LLC now owns 18,169 shares of the company’s stock valued at $230,000 after buying an additional 1,169 shares in the last quarter.
Nuveen AMT-Free Municipal Credit Income Fund Company Profile
Nuveen AMT-Free Municipal Credit Income Fund (NYSE: NVG) is a diversified, closed-end management investment company that primarily seeks to provide shareholders with a high level of current income exempt from federal income tax, including the alternative minimum tax. The fund pursues its objective by investing principally in investment-grade and below-investment-grade municipal obligations, with an emphasis on credits that are free from federal income tax. It may also invest up to a limited portion of its assets in municipal lease obligations, variable-rate demand notes, and other municipal derivatives.
As a part of the Nuveen family of investment products, NVG is managed by experienced municipal fixed-income professionals who conduct rigorous credit analysis and portfolio construction.