NEA Stock Summary and Trading Ideas (Nuveen Amount Free Muni Income | NYSE:NEA)

The fund's investment objectives are to provide current income exempt from regular federal income tax and the alternative minimum tax applicable to individuals and to enhance portfolio value relative to the municipal bond market by investing in tax-exempt municipal bonds that the fund's investment adviser believes are underrated or undervalued or that represent municipal market sectors that are undervalued. The fund invests in municipal securities that are exempt from federal income taxes, including the alternative minimum tax (AMT). The fund invests at least 80% of its managed assets in municipal securities rated, at the time of investment, investment grade (Baa/BBB or better by S&P, Moody’s, or Fitch) or, if they are unrated, are judged by the manager to be of comparable quality. The fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality, of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. The fund uses leverage.

Nuveen Amount Free Muni Income trades on the NYSE stock market under the symbol NEA.

As of April 18, 2024, NEA stock price declined to $10.68 with 329,921 million shares trading.

NEA has a beta of 0.74, meaning it tends to be less sensitive to market movements. NEA has a correlation of 0.38 to the broad based SPY ETF.

NEA has a market cap of $3.19 billion. This is considered a Mid Cap stock.

In the last 3 years, NEA stock traded as high as $16.00 and as low as $9.20.

NEA has underperformed the market in the last year with a return of -0.4%, while the SPY ETF gained +22.4%. In the last 3 month period, NEA fell short of the market, returning +0.4%, while SPY returned +6.1%. However, in the most recent 2 weeks NEA has outperformed the stock market by returning -1.7%, while SPY returned -3.8%.

NEA support price is $10.67 and resistance is $10.79 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NEA stock will trade within this expected range on the day.