What’s Propelling Nuveen Texas Quality Municipal Income Fund (NTX) to Decrease? The Stock Formed a Ascending Triangle Pattern

December 8, 2017 - By Richard Conner

Investors sentiment increased to 1.2 in Q2 2017. Its up 0.20, from 1 in 2017Q1. It is positive, as 1 investors sold Nuveen Texas Quality Municipal Income Fund shares while 4 reduced holdings. 3 funds opened positions while 3 raised stakes. 260,669 shares or 23.36% less from 340,124 shares in 2017Q1 were reported.
Whittier Tru Co stated it has 10,070 shares or 0.01% of all its holdings. Fruth Mgmt reported 17,300 shares. Moreover, Atlanta Group has 0.08% invested in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX). Lpl Fincl reported 18,375 shares stake. 24,430 are owned by Brown Advisory Incorporated. Fiera Capital Corporation has invested 0% in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX). Creative Planning owns 0% invested in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX) for 5,000 shares. Fort Washington Advsrs Oh, a Ohio-based fund reported 21,500 shares. Advisory Services Networks Ltd reported 113 shares stake. Whittier Of Nevada accumulated 38,666 shares. Wells Fargo And Mn reported 0% of its portfolio in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX). 500 were accumulated by Fifth Third National Bank. Pnc Gru invested in 0% or 1,000 shares. Royal Savings Bank Of Canada has invested 0% in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX). California-based United Capital Advisers Ltd has invested 0% in Nuveen Texas Quality Municipal Income Fund (NYSE:NTX).

The stock of Nuveen Texas Quality Municipal Income Fund (NTX) formed an ascending triangle with $13.11 target or 9.00 % below today’s $14.41 share price. The 9 months triangle pattern indicates high risk for the $144.49M company. If the $13.11 price target is reached, the company will be worth $13.00M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock decreased 0.62% or $0.09 during the last trading session, reaching $14.41. About 10,857 shares traded. Nuveen Texas Quality Municipal Income Fund (NYSE:NTX) has declined 4.02% since December 8, 2016 and is downtrending. It has underperformed by 20.72% the S&P500.

More important recent Nuveen Texas Quality Municipal Income Fund (NYSE:NTX) news were published by: Businesswire.com which released: “Several Nuveen Closed-End Funds Announce Fund Name Changes” on November 17, 2016, also Investorplace.com published article titled: “3 High-Yield Closed-End Funds for Tax-Free Income”, Marketwatch.com published: “Nuveen Texas Quality Municipal Income Fund” on June 13, 2011. More interesting news about Nuveen Texas Quality Municipal Income Fund (NYSE:NTX) was released by: Forbes.com and their article: “How To Get 5% Dividends Tax Free” with publication date: September 24, 2016.

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