Michael S. Hamilton, a portfolio manager at Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA), recently acquired 265 shares of the company's common stock. The shares were purchased on November 7, 2024, at a price of $11.3541 per share, amounting to a total transaction value of $3,008. Following this transaction, Hamilton holds 2,676 shares in a joint account. This acquisition reflects Hamilton's continued investment in the fund, which is managed by Nuveen Investments, based in Chicago, Illinois.
InvestingPro Insights
Michael S. Hamilton's recent purchase of Nuveen AMT-Free Quality Municipal Income Fund (NYSE:NEA) shares aligns with several positive indicators highlighted by InvestingPro. The fund's attractive dividend yield of 7.64% as of the latest data underscores its commitment to shareholder returns. This is further supported by an InvestingPro Tip noting that NEA "pays a significant dividend to shareholders" and has maintained dividend payments for an impressive 22 consecutive years.
The fund's stability is reflected in another InvestingPro Tip, which states that the stock "generally trades with low price volatility." This characteristic may be particularly appealing to investors seeking steady income streams in the current market environment. Additionally, NEA's profitability over the last twelve months, as pointed out by InvestingPro, suggests a solid financial foundation supporting its dividend payments.
With a market capitalization of $3.43 billion and a gross profit margin of 100% for the last twelve months as of Q2 2024, NEA demonstrates strong financial health. The fund's one-year price total return of 19.67% also indicates positive momentum, which may have influenced Hamilton's decision to increase his stake.
Investors interested in a deeper analysis can access additional insights through InvestingPro, which offers 6 more tips for NEA, providing a comprehensive view of the fund's investment potential.
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