Shares of Nuveen AMT-Free Quality Municipal Income Fund of Beneficial Interest Par Value $.01 (NYSE:NEA) traded today at $15.78, eclipsing its 52-week high. This new high was reached on below average trading volume as 217,000 shares traded hands, while the average 30-day volume is approximately 373,000 shares.
The Fund seeks to provide current income exempt from regular federal income tax and the alternative minimum tax (AMT) applicable to individuals, by investing in an actively managed portfolio of tax-exempt municipal securities. Up to 35% of its managed assets may be rated BBB and below (rated at the time of purchase by a nationally statistical ratings organization [S&P, Moody’s, Fitch] or, if unrated, judged to be of comparable quality by the Fund’s portfolio team), and the Fund uses leverage.
Nuveen AMT-Free Quality Municipal Income Fund of Beneficial Interest Par Value $.01 (NYSE:NEA) defies analysts with a current price ($15.72) 0.0% above its average consensus price target of $15.72.
Over the past year, Nuveen AMT-Free Quality Municipal Income Fund of Beneficial Interest Par Value $.01 has traded in a range of $13.81 to $15.78 and is now at $15.72, 14% above that low.
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