Karpus Management, Inc. recently announced the acquisition of new stake in Nuveen New York AMT-Free Quality Municipal Income Fund (NYSE:NRK). The institutional investor has increased its shareholding in the Financial company by 1.28% to 9.15 million shares with purchase of 0.12 million shares. This fresh investment now brings its stake to 10.49% valued currently at $93.84 million. In addition, Hennion & Walsh Asset Management, raised its holdings by 0.14 million to 0.7 million shares. And Morgan Stanley Smith Barney LLC has lifted its position by 10.79% or 63715.0 shares – to 0.65 million shares.
With over 0.33 million Nuveen New York AMT-Free Quality Municipal Income Fund (NRK) shares trading Friday and a closing price of $10.63 on the day, the dollar volume was approximately $3.47 million. The shares have shown a negative half year performance of -5.09% and its price on 01/13/23 lost nearly -0.09%. Currently, there are 87.24M common shares owned by the public and among those 87.19M shares have been available to trade.
Insiders at the company have transacted a total of 4 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 84,813 shares. Insider sales of the common stock occurred on 2 occasions, with total insider shares sold totaling 87,401 shares.
The top 3 mutual fund holders in Nuveen New York AMT-Free Quality Municipal Income Fund are WCM Alternatives Event Driven Fun, Saba Closed End Funds ETF, and AQR Diversified Arbitrage Fund. WCM Alternatives Event Driven Fun owns 58257.0 shares of the company’s stock, all valued at over $0.6 million. AQR Diversified Arbitrage Fund bought 13908.0 shares to bring its total holdings to over 44352.0 shares at a value of $0.46 million. AQR Diversified Arbitrage Fund now owns shares totaling to 0.05% of the shares outstanding.
However, the script later moved the day high at 10.70, down -0.09%. The company’s stock has a 5-day price change of 1.92% and 8.36% over the past three months. NRK shares are trading 3.61% year to date (YTD), with the 12-month market performance down to -21.84% lower. It has a 12-month low price of $9.38 and touched a high of $13.60 over the same period. NRK has an average intraday trading volume of 325.18K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.71%, 3.66%, and -1.17% respectively.
Institutional ownership of Nuveen New York AMT-Free Quality Municipal Income Fund (NYSE: NRK) shares accounts for 26.78% of the company’s 87.24M shares outstanding. Mutual fund holders own 0.21%, while other institutional holders and individual stakeholders account for 26.68% and 0.06% respectively.
It has a market capitalization of $927.31M. The earnings-per-share (ttm) stands at -$0.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.94% over the week and 1.00% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.