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Nuveen AMT-Free Quality Municipal Income Fund (NEA)

Financial Services | Asset Management | Chicago, United States | NYSE
11.58 USD
Short-term:★★⯪☆☆Long-term:★☆☆☆☆Dividends:★★☆☆☆
Hot Take ↕ | July 11, 2026, 6:44 a.m. EDT

The investment case here is fundamentally broken despite the attractive headline yield. The business has suffered a catastrophic multi-year decline, dropping nearly 28% over the last nine years, with the most recent annual performance showing another drop. This persistent downward trajectory suggests the market has correctly identified a deteriorating asset, likely due to the fund's inability to generate sufficient income to cover its costs and distribute meaningful value to shareholders. The payout ratio of over 100% confirms that the company is paying out more than it earns, eroding capital rather than returning it. While the yield appears high at 7%, it is a trap; the distribution is unsustainable and will likely shrink further as the fund consumes its own assets. Technically, the stock is trading near its five-year lows, offering no momentum-based relief. For investors seeking income, this is a dangerous liability disguised as a high-yield opportunity.
Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
AutoARIMA ✓0.008643
AutoTheta0.009041
AutoETS0.010583
MSTL0.018656
MSTL_1260.025582

Forecast horizon: 60 days | Selected: AutoARIMA

Forecast Reliability
Score 54%
H-stat 0.35
Ljung-Box p 0.000
Jarque-Bera p 0.000
Excess Kurtosis 1.15
Attribute Value
Sector Financial Services
Ex Dividend Date 2026-07-14
Last Dividend Date 2026-06-14
Debt to Equity Ratio 68.552
Revenue per Share 0.903
Market Cap 3,462,905,344
Trailing P/E 14.85
Beta 0.69
Profit Margins 30.42%
Website https://www.nuveen.com/CEF/Product/Overview.aspx?fundcode=NEA

Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
0.59% 7.24% 6.55% 5.86%
Dividend History
Date Dividend Yield %
2026-06-15 0.068 0.588235
2026-05-15 0.068 0.601238
2026-04-15 0.068 0.590791
2026-03-13 0.068 0.587219
2026-02-13 0.068 0.578723
2026-01-15 0.068 0.578231
2025-12-15 0.068 0.589766
2025-11-14 0.068 0.589766
2025-10-15 0.068 0.593368
2025-09-15 0.068 0.599647
2025-08-15 0.073 0.674054
2025-07-15 0.073 0.670340
2025-06-13 0.073 0.674677
2025-05-15 0.073 0.667276
2025-04-15 0.073 0.684803
2025-03-14 0.073 0.648313
2025-02-14 0.073 0.631488
2025-01-15 0.073 0.651786
2024-12-13 0.073 0.630942
2024-11-15 0.073 0.633131
2024-10-15 0.073 0.617075
2024-09-13 0.073 0.617075
2024-08-15 0.073 0.629310
2024-07-15 0.073 0.635889
2024-06-14 0.073 0.640351
2024-05-14 0.051 0.469613
2024-04-12 0.051 0.475746
2024-03-14 0.051 0.466179
2024-02-14 0.043 0.392694
2024-01-11 0.043 0.391265
2023-12-14 0.043 0.390200
2023-11-14 0.043 0.416667
2023-10-12 0.035 0.361570
2023-09-14 0.035 0.344828
2023-08-14 0.035 0.330813
2023-07-13 0.035 0.320807
2023-06-14 0.035 0.323774
2023-05-12 0.035 0.317316
2023-04-13 0.035 0.307828
2023-03-14 0.035 0.322284
2023-02-14 0.035 0.308370
2023-01-12 0.035 0.307557
2022-12-14 0.045 0.400356
2022-11-14 0.045 0.419776
2022-10-13 0.045 0.420954
2022-09-14 0.053 0.462882
2022-08-12 0.053 0.415686
2022-07-14 0.053 0.434783
2022-06-14 0.053 0.460069
2022-05-12 0.053 0.445004
2022-04-13 0.053 0.422311
2022-03-14 0.059 0.446293
2022-02-14 0.059 0.436068
2022-01-13 0.059 0.398379
2021-12-14 0.059 0.387648
2021-11-12 0.059 0.384365
2021-10-14 0.059 0.390987
2021-09-14 0.059 0.371069
2021-08-12 0.059 0.374128
2021-07-14 0.059 0.370836
2021-06-14 0.059 0.381877
2021-05-13 0.059 0.395177
2021-04-14 0.059 0.392810
2021-03-12 0.059 0.400271
2021-02-17 0.024 0.162602
2021-02-04 0.035 0.233645
2021-01-14 0.059 0.393333
2020-12-14 0.059 0.395708
2020-11-12 0.059 0.403833
2020-10-14 0.059 0.412587
2020-09-14 0.057 0.398323
2020-08-13 0.057 0.389344
2020-07-14 0.057 0.400844
2020-06-12 0.057 0.413943
2020-05-14 0.057 0.428894
2020-04-14 0.054 0.388489
2020-03-12 0.054 0.406933
2020-02-13 0.054 0.365606
2020-01-14 0.054 0.373961
2019-12-12 0.054 0.379480
2019-11-25 0.012 0.085349
2019-11-14 0.042 0.298084
2019-10-11 0.054 0.378947
2019-09-12 0.054 0.381087
2019-08-14 0.054 0.377358
2019-07-12 0.054 0.387931
2019-06-13 0.054 0.395894
2019-05-14 0.054 0.400891
2019-04-12 0.054 0.411899
2019-03-14 0.054 0.410646
2019-02-14 0.054 0.412529
2019-01-14 0.054 0.422535
2018-12-13 0.054 0.437956
2018-11-14 0.054 0.438668
2018-10-12 0.054 0.447761
2018-09-13 0.054 0.416345
2018-08-14 0.054 0.416667
2018-07-12 0.054 0.416988
2018-06-14 0.054 0.416025
2018-05-14 0.058 0.448223
2018-04-12 0.058 0.448916
2018-03-14 0.058 0.447876
2018-02-14 0.058 0.441400
2018-01-11 0.058 0.425532
2017-12-14 0.063 0.458515
2017-11-14 0.058 0.422125
2017-10-12 0.058 0.420900
2017-09-14 0.058 0.414286
2017-08-11 0.062 0.448625
2017-07-12 0.062 0.450909
2017-06-13 0.062 0.454212
2017-05-11 0.062 0.462342
2017-04-11 0.062 0.456890
2017-03-13 0.062 0.478395
2017-02-13 0.062 0.465465
2017-01-11 0.062 0.465116
2016-12-13 0.062 0.470053
2016-11-10 0.068 0.512821
2016-10-12 0.068 0.490267
2016-09-20 0.046 0.318780
2016-09-07 0.017 0.113560
2016-08-11 0.063 0.420842
2016-07-13 0.063 0.425101
2016-06-13 0.063 0.427408
2016-05-11 0.063 0.425676
2016-04-13 0.063 0.435083
2016-03-11 0.063 0.454545
2016-02-10 0.063 0.448399
2016-01-13 0.063 0.457516
2015-12-11 0.067 0.503759
2015-11-10 0.063 0.479452
2015-10-13 0.063 0.483500
2015-09-11 0.063 0.492187
2015-08-12 0.065 0.498849
2015-07-13 0.065 0.508607
2015-06-11 0.065 0.508210
2015-05-13 0.069 0.511111
2015-04-13 0.069 0.499276
2015-03-11 0.069 0.500000
2015-02-11 0.069 0.498555
2015-01-13 0.069 0.487288
2014-12-11 0.069 0.507353
2014-11-12 0.069 0.506608
2014-10-10 0.069 0.508475
2014-09-11 0.069 0.509601
2014-08-13 0.069 0.516081
2014-07-11 0.069 0.520755
2014-06-11 0.069 0.513775
2014-05-13 0.069 0.515310
2014-04-11 0.069 0.528736
2014-03-12 0.069 0.529954
2014-02-12 0.069 0.534884
2014-01-13 0.069 0.551559
2013-12-11 0.069 0.590753
2013-11-13 0.069 0.572614
2013-10-10 0.069 0.571192
2013-09-11 0.069 0.576441
2013-08-13 0.069 0.582278
2013-07-11 0.069 0.546751
2013-05-14 0.021 0.149893
2013-05-01 0.115 0.788752
2013-04-11 0.068 0.465435
2013-03-13 0.068 0.468320
2013-02-13 0.068 0.447368
2013-01-11 0.068 0.437862
2012-12-12 0.068 0.446487
2012-11-13 0.070 0.442758
2012-10-11 0.070 0.451904
2012-09-12 0.070 0.459318
2012-08-13 0.070 0.459318
2012-07-11 0.070 0.464191
2012-06-13 0.070 0.470114
2012-05-11 0.070 0.469169
2012-04-11 0.070 0.480769
2012-03-13 0.070 0.466356
2012-02-13 0.070 0.466667
2012-01-11 0.070 0.475221
2011-12-13 0.070 0.485774
2011-11-10 0.070 0.496454
2011-10-12 0.070 0.507246
2011-09-13 0.070 0.498931
2011-08-11 0.068 0.505952
2011-07-13 0.068 0.495988
2011-06-13 0.068 0.508601
2011-05-11 0.068 0.502959
2011-04-13 0.068 0.520275
2011-03-11 0.068 0.514762
2011-02-11 0.068 0.521472
2011-01-12 0.068 0.531250
2010-12-13 0.068 0.524691
2010-11-10 0.068 0.477864
2010-10-13 0.068 0.448253
2010-09-13 0.068 0.443575
2010-08-11 0.068 0.438144
2010-07-13 0.068 0.454545
2010-06-11 0.068 0.455154
2010-05-12 0.068 0.457604
2010-04-13 0.068 0.468642
2010-03-11 0.068 0.475524
2010-02-10 0.068 0.485021
2010-01-13 0.068 0.479211
2009-12-11 0.068 0.494905
2009-11-10 0.065 0.484713
2009-10-13 0.065 0.475146
2009-09-11 0.065 0.478998
2009-08-12 0.062 0.474369
2009-07-13 0.062 0.485893
2009-06-11 0.062 0.494812
2009-05-13 0.062 0.488574
2009-04-13 0.059 0.494552
2009-03-11 0.059 0.508183
2009-02-11 0.059 0.479285
2009-01-13 0.059 0.490441
2008-12-11 0.059 0.650496
2008-11-12 0.059 0.545791
2008-10-10 0.059 0.721271
2008-09-11 0.059 0.452801
2008-08-13 0.059 0.455951
2008-07-11 0.059 0.447309
2008-06-11 0.059 0.420527
2008-05-13 0.059 0.422636
2008-04-11 0.059 0.418737
2008-03-12 0.059 0.430657
2008-02-13 0.059 0.404387
2008-01-11 0.059 0.398111
2007-12-12 0.059 0.419929
2007-11-13 0.059 0.435746
2007-10-11 0.059 0.412299
2007-09-12 0.059 0.407459
2007-08-13 0.059 0.398379
2007-07-11 0.059 0.404110
2007-06-13 0.059 0.405777
2007-05-11 0.059 0.401634
2007-04-11 0.059 0.397306
2007-03-13 0.059 0.400543
2007-02-13 0.059 0.403005
2007-01-10 0.059 0.409438
2006-12-13 0.059 0.401907
2006-11-13 0.059 0.397574
2006-10-11 0.059 0.410292
2006-09-13 0.059 0.414326
2006-08-11 0.062 0.430855
2006-07-12 0.062 0.437236
2006-06-13 0.062 0.455882
2006-05-11 0.062 0.452555
2006-04-11 0.062 0.457227
2006-03-13 0.062 0.452225
2006-02-13 0.062 0.444444
2006-01-11 0.062 0.453216
2005-12-13 0.062 0.473644
2005-11-10 0.062 0.469697
2005-10-12 0.062 0.439093
2005-09-13 0.062 0.426997
2005-08-11 0.065 0.451389
2005-07-13 0.065 0.448276
2005-06-13 0.065 0.455820
2005-05-11 0.069 0.491453
2005-04-13 0.069 0.500363
2005-03-11 0.069 0.480167
2005-02-11 0.072 0.507400
2005-01-12 0.072 0.516499
2004-12-13 0.081 0.593407
2004-11-10 0.075 0.520833
2004-10-13 0.075 0.515464
2004-09-13 0.075 0.518314
2004-08-11 0.078 0.557541
2004-07-13 0.078 0.570175
2004-06-14 0.078 0.586466
2004-05-12 0.078 0.582090
2004-04-13 0.078 0.535347
2004-03-11 0.078 0.504854
2004-02-11 0.078 0.509138
2004-01-13 0.078 0.513158
2003-12-11 0.083 0.553333
2003-11-12 0.078 0.529532
2003-10-10 0.078 0.535714
2003-09-11 0.078 0.550847
2003-08-13 0.078 0.547368
2003-07-11 0.078 0.502577
2003-06-11 0.078 0.501931
2003-05-13 0.078 0.511140
2003-04-11 0.078 0.520000
2003-03-12 0.078 0.525253
2003-02-12 0.078 0.520000
Additional Data
dividendRate 0.82
dividendYield 7.05
exDividendDate 2026-07-15
trailingAnnualDividendRate 0.866
trailingAnnualDividendYield 0.07478411
lastDividendValue 0.068
lastDividendDate 2026-06-15
dividendDate 2019-02-01

Info Dump

Attribute Value
52 Week Change 0.05368519
Address1 333 West Wacker Drive
All Time High 16.0
All Time Low 6.0
Ask 0.0
Ask Size 2,500
Average Analyst Rating 1.0 - Strong Buy
Average Daily Volume10 Day 664,030
Average Daily Volume3 Month 774,632
Average Volume 774,632
Average Volume10Days 664,030
Beta 0.691
Bid 0.0
Bid Size 5,300
Book Value 11.801
City Chicago
Country United States
Crypto Tradeable 0
Currency USD
Current Price 11.58
Current Ratio 3.044
Custom Price Alert Confidence HIGH
Date Short Interest 1,782,777,600
Day High 11.605
Day Low 11.525
Debt To Equity 68.552
Dividend Date 1,548,979,200
Dividend Rate 0.82
Dividend Yield 7.05
Earnings Growth 0.609
Earnings Quarterly Growth 0.609
Earnings Timestamp End 1,751,630,400
Earnings Timestamp Start 1,751,281,140
Ebitda Margins 0.0
Eps Trailing Twelve Months 0.78
Esg Populated 0
Ex Dividend Date 1,784,073,600
Exchange NYQ
Exchange Data Delayed By 0
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fifty Day Average 11.5176
Fifty Day Average Change 0.062399864
Fifty Day Average Change Percent 0.0054177837
Fifty Two Week Change Percent 5.368519
Fifty Two Week High 11.9
Fifty Two Week High Change -0.3199997
Fifty Two Week High Change Percent -0.026890732
Fifty Two Week Low 10.6
Fifty Two Week Low Change 0.97999954
Fifty Two Week Low Change Percent 0.09245279
Fifty Two Week Range 10.6 - 11.9
Financial Currency USD
First Trade Date Milliseconds 1,042,727,400,000
Five Year Avg Dividend Yield 5.65
Free Cashflow 74,581,864
Full Exchange Name NYSE
Gmt Off Set Milliseconds -14,400,000
Gross Margins 1.0
Gross Profits 269,905,664
Has Pre Post Market Data 1
Held Percent Insiders 0.00081
Held Percent Institutions 0.17782
Implied Shares Outstanding 299,041,932
Industry Asset Management
Industry Disp Asset Management
Industry Key asset-management
Is Earnings Date Estimate 1
Language en-US
Last Dividend Date 1,781,481,600
Last Dividend Value 0.068
Last Fiscal Year End 1,761,868,800
Long Business Summary Nuveen AMT-Free Quality Municipal Income Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments Inc. The fund is co-managed by Nuveen Asset Management, LLC and Nuveen Fund Advisors LLC. It invests in the fixed income markets of the United States. The fund primarily invests in undervalued municipal bonds that are exempt from federal income taxes, including the alternative minimum tax. It seeks to invest in securities that are rated Baa/BBB or better by S&P, Moody's, or Fitch. The fund's investment portfolio comprises investments in various industries, which include transportation, healthcare, utilities, housing/multifamily, and water and sewer. It was formerly known as Nuveen AMT-Free Municipal Income Fund. Nuveen AMT-Free Quality Municipal Income Fund was formed on November 21, 2002 and is domiciled in the United States.
Long Name Nuveen AMT-Free Quality Municipal Income Fund
Market us_market
Market Cap 3,462,905,344
Market State PRE
Max Age 86,400
Message Board Id finmb_3611063
Most Recent Quarter 1,761,868,800
Net Income To Common 82,102,704
Next Fiscal Year End 1,793,404,800
Non Diluted Market Cap 3,462,905,572
Open 11.58
Operating Cashflow 323,931,104
Operating Margins 0.82093
Payout Ratio 1.0654
Phone 312 917 7700
Pre Market Change -0.015000343
Pre Market Change Percent -0.12936907
Pre Market Price 11.58
Pre Market Time 1,784,016,009
Previous Close 11.58
Price Hint 2
Price To Book 0.9812728
Price To Sales Trailing12 Months 12.830058
Profit Margins 0.30419
Quick Ratio 3.044
Quote Source Name Nasdaq Real Time Price
Quote Type EQUITY
Recommendation Key strong_buy
Recommendation Mean 1.0
Region US
Regular Market Change 0.0
Regular Market Change Percent 0.0
Regular Market Day High 11.605
Regular Market Day Low 11.525
Regular Market Day Range 11.525 - 11.605
Regular Market Open 11.58
Regular Market Previous Close 11.58
Regular Market Price 11.58
Regular Market Time 1,783,972,802
Regular Market Volume 1,268,268
Return On Assets 0.022550002
Return On Equity 0.0227
Revenue Growth -0.014
Revenue Per Share 0.903
Sand P52 Week Change 0.20847368
Sector Financial Services
Sector Disp Financial Services
Sector Key financial-services
Shares Outstanding 299,041,932
Shares Percent Shares Out 0.0039
Shares Short 1,165,825
Shares Short Previous Month Date 1,780,012,800
Shares Short Prior Month 1,024,377
Short Name Nuveen AMT-Free Quality Municip
Short Percent Of Float 0.0039
Short Ratio 1.59
Source Interval 15
State IL
Symbol NEA
Total Debt 2,418,834,176
Total Revenue 269,905,664
Tradeable 0
Trailing Annual Dividend Rate 0.866
Trailing Annual Dividend Yield 0.07478411
Trailing Eps 0.78
Trailing P E 14.846154
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 11.54085
Two Hundred Day Average Change 0.039150238
Two Hundred Day Average Change Percent 0.0033923185
Type Disp Equity
Volume 1,268,268
Website https://www.nuveen.com/CEF/Product/Overview.aspx?fundcode=NEA
Zip 60,606-1220