Karpus Management Reduces Stake in Nuveen New York AMT-Free Quality Municipal Income Fund.

Karpus Management has reduced its stake in Nuveen New York AMT-Free Quality Municipal Income Fund (NRK) by 994,444 shares at $9.99 per share. The move resulted in a -0.3% change in the firm's portfolio position, leaving Karpus Management with a total of 17,121,242 shares in NRK, which now represents 19.63% of its holdings in the fund. The firm's investment strategy emphasizes value investing and adapting to market changes. NRK's current stock price stands at $10.07, with a PE percentage of 10.83, and a GF Score of 43/100, indicating poor future performance potential.

Karpus Management, a prominent value investor, has recently reduced its stake in Nuveen New York AMT-Free Quality Municipal Income Fund (NRK) by 994,444 shares at $9.99 per share. This move resulted in a -0.3% change in the firm's portfolio position, leaving Karpus Management with a total of 17,121,242 shares in NRK, which now represents 19.63% of its holdings in the fund. The firm's investment strategy emphasizes value investing and adapting to market changes.

NRK's current stock price stands at $10.07, with a PE percentage of 10.83, and a GF Score of 43/100, indicating poor future performance potential. The fund, launched by Nuveen Investments, Inc., invests in undervalued municipal securities and other related investments, with a focus on income, covered by insurance from insurers with a claims-paying ability, exempt from regular federal and New York income tax and are rated Baa, BBB or better and having an average maturity of 15.98 years.

This reduction in stake comes amidst a series of insider trading activities and shareholder meetings, where the fund has seen significant changes in ownership and management. The recent insider purchases and filings reflect the fund's efforts to maintain its position in the municipal bond market, despite the challenging economic conditions.

References:
[1] https://quantisnow.com/company/NRK