Nuveen AMT-Free Quality Municipal Income Fund

No, NEA is a closed-end fund whose shares trade on the stock market. Like other closed-end funds, its market price can trade at a premium or discount to its net asset value.

Nuveen says the fund seeks income exempt from regular federal income tax and the federal alternative minimum tax for individuals. State taxes and the tax treatment of a particular distribution can still depend on the investor and the bonds held.

NEA invests in an actively managed portfolio of tax-exempt municipal securities. Nuveen says up to 35 percent of managed assets may be rated BBB or below at the time of purchase.

Yes, Nuveen describes NEA as using leverage and offering monthly tax-exempt income. Leverage can magnify changes in the fund's net asset value, market price, and distributions.