Nuveen Quality Municipal Income Fund (NYSE:NAD) to Issue Dividend Increase – $0.08 Per Share

Nuveen Quality Municipal Income Fund (NYSE:NAD) announced a monthly dividend on Monday, July 1st, NASDAQ reports. Shareholders of record on Monday, July 15th will be given a dividend of 0.0755 per share by the financial services provider on Thursday, August 1st. This represents a $0.91 annualized dividend and a yield of 7.70%. The ex-dividend date is Monday, July 15th. This is a positive change from Nuveen Quality Municipal Income Fund’s previous monthly dividend of $0.08.

Nuveen Quality Municipal Income Fund has decreased its dividend by an average of 11.3% per year over the last three years.

Nuveen Quality Municipal Income Fund Price Performance

Shares of NAD stock traded up $0.03 on Tuesday, reaching $11.76. 730,093 shares of the company were exchanged, compared to its average volume of 627,052. The company has a 50-day moving average of $11.35 and a 200-day moving average of $11.30. Nuveen Quality Municipal Income Fund has a one year low of $9.56 and a one year high of $11.93.

Insider Buying and Selling

In other news, insider Young L. Robert acquired 16,977 shares of Nuveen Quality Municipal Income Fund stock in a transaction on Tuesday, July 2nd. The stock was purchased at an average price of $11.78 per share, with a total value of $199,989.06. Following the completion of the purchase, the insider now owns 32,727 shares of the company’s stock, valued at approximately $385,524.06. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Nuveen Quality Municipal Income Fund Company Profile

Nuveen 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 the United States. The fund invests in undervalued municipal securities and other related investments, the income from which is exempt from regular federal income taxes.