Statistics of Price Movements of Nuveen Arizona Premium Fund (NAZ)

The price movements of Nuveen Arizona Premium Fund (ticker NAZ) are summarized in five ways:

  • Table 1. Statistics of daily price changes using the closing prices
  • Table 2. Statistics of daily price changes using the closing and opening prices
  • Table 3 – 7. Statistics of daily price changes when NAZ opened with an increase of 1%, 2%, 3%, 4%, or more than 5%
  • Table 8 – 10. Statistics of stock price changes in the 20 days after NAZ had a big price move
  • Table 11. Statistics of daily price changes in the 20 days after NAZ moved 5% with twice the 30-day average volume

The statistics are calculated using NAZ's price data across 1,549 trading days from 2015 to 2020.

Table 1. Statistics of NAZ one-day price changes

In this table, the one-day price change is calculated using the closing price and the previous day's closing price.

In the past 1,549 trading days, 46.6% of the time (722 days), NAZ closed above the previous day's closing price. 43.4% of the time (672 days), it closed below the previous day's closing price. 9.9% of the time (154 days), it did not change.

Also see: VIX price movement study.

NAZ Price Change (%) Number of Days % of Total Sessions
9 – 10% 1
0.06%
7 – 8% 2
0.13%
5 – 6% 1
0.06%
3 – 4% 2
0.13%
2 – 3% 8
0.52%
1 – 2% 81
5.23%
0 – 1% 627
40.50%
0% 154
9.95%
0 – -1% 596
38.50%
-1 – -2% 63
4.07%
-2 – -3% 6
0.39%
-3 – -4% 2
0.13%
-4 – -5% 2
0.13%
-6 – -7% 1
0.06%
-12 – -13% 1
0.06%
-16 – -17% 1
0.06%

Table 2. Statistics of NAZ: Closing vs. Open

In this table, instead of using the closing price of the previous day, the opening price is used to calculate the one-day price change of NAZ.

45.5% of the time (705 days), NAZ closed above the opening price. 45.6% of the time (706 days), it closed below the opening price. 8.9% of the time (138 days), it closed where it started.

Closing - Open (%) Number of Days % of Total Sessions
15 – 16% 1
0.06%
11 – 12% 1
0.06%
7 – 8% 1
0.06%
3 – 4% 1
0.06%
2 – 3% 10
0.65%
1 – 2% 71
4.58%
0 – 1% 620
40.03%
0% 138
8.91%
0 – -1% 619
39.96%
-1 – -2% 67
4.33%
-2 – -3% 13
0.84%
-3 – -4% 2
0.13%
-4 – -5% 2
0.13%
-6 – -7% 1
0.06%
-10 – -11% 1
0.06%
-13 – -14% 1
0.06%

Table 3. One-day performance when NAZ opened 5% higher than previous close

In the past 1,549 trading days, NAZ opened more than 5% higher than the previous day's closing price 0 times. Of these days, NaN% (0 days) had closing prices above the opening price, and NaN% (0 days) had closing prices below the opening price.

Closing - Open (%) Number of Days % of Total Sessions

Table 4. Closing vs. open when NAZ opened 4–5% higher

On 0 days, NAZ opened 4–5% higher than the previous day's closing price. Of these days, NaN% (0 days) had closing prices above the opening price, and NaN% (0 days) had closing prices below the opening price.

Closing - Open (%) Number of Days % of Total Sessions

Table 5. Closing vs. open when NAZ open 3 – 4% higher

1 times NAZ opened 3 – 4% higher than the previous day's closing price. Among these days, 100.0% (1 days) closed above the opening price, 0.0% (0 days) closed below the opening price.

Closing - Open (%) Number of Days % of Total Sessions
0 – 1% 1
100.00%

Table 6. Closing vs. open when NAZ open 2 – 3% higher

7 times NAZ opened 2 – 3% higher than the previous day's closing price. Among these days, 14.3% (1 days) closed above the opening price, 85.7% (6 days) closed below the opening price.

Closing - Open (%) Number of Days % of Total Sessions
2 – 3% 1
14.29%
0 – -1% 1
14.29%
-1 – -2% 1
14.29%
-2 – -3% 4
57.14%

Table 7. Closing vs. open when NAZ open 1 – 2% higher

30 times NAZ opened 1 – 2% higher than the previous day's closing price. Among these days, 13.3% (4 days) closed above the opening price, 83.3% (25 days) closed below the opening price.

Closing - Open (%) Number of Days % of Total Sessions
1 – 2% 2
6.67%
0 – 1% 2
6.67%
0% 1
3.33%
0 – -1% 13
43.33%
-1 – -2% 10
33.33%
-2 – -3% 2
6.67%

Table 8. Periods when NAZ moved 15% or more

In this table, we track the price movements in the 20 days after NAZ had a one-day price change of at least 15%.

DatePrice ChangePrice Change after 15% Move
Days after:14710131619
20200323-16.1% 5.1 17.7 12.0 12.6 18.1 18.0 17.2

Table 9. Periods when NAZ moved 10% or more

In this table, we track the price movements in the 20 days after NAZ had a one-day price change of at least 10%.

DatePrice ChangePrice Change after 10% Move
Days after:14710131619
20200318-12.7% 9.2 3.3 15.7 10.1 10.6 16.1 16.0
20200323-16.1% 5.1 17.7 12.0 12.6 18.1 18.0 17.2

Table 9b. NAZ average price changes following a 10% down day

Of the 1,549 trading days from 2015 to 2020, there were 2 days in which NAZ was down more than -10%. This table shows the average price changes over the 2 days.

Average TypeAverage Price Change
Days after:14710131619
Avg for Change ≥ -10% 7.2 10.5 13.9 11.3 14.4 17.0 16.6

Table 10. Periods when NAZ moved 5% or more

In this table, we track the price movements in the 20 days after NAZ had a one-day price change of at least 5%.

DatePrice ChangePrice Change after 5% Move
Days after:14710131619
202003199.2% 7.3 1.5 5.2 -.2 2.4 6.3 5.4
202003257.3% 4.0 3.2 -2.3 1.7 4.5 4.2 2.2
202003207.2% -16.1 -1.6 -2.4 -7.6 -3.7 -1.1 -1.4
202003245.1% 7.4 11.3 5.5 8.3 12.4 11.5 10.7
20200312-6.8% 1.7 -13.3 -14.8 .0 -.8 -6.1 -2.2
20200318-12.7% 9.2 3.3 15.7 10.1 10.6 16.1 16.0
20200323-16.1% 5.1 17.7 12.0 12.6 18.1 18.0 17.2

Table 10a. NAZ average price changes following a 5% up day

Of the 1,549 trading days from 2015 to 2020, there were 4 days in which NAZ was up more than 5%. This table shows the average price changes over the 4 days.

Average TypeAverage Price Change
Days after:14710131619
Avg for Change ≥ 5% .6 3.6 1.5 .6 3.9 5.2 4.2

Table 10b. NAZ average price changes following a 5% down day

Of the 1,549 trading days from 2015 to 2020, there were 3 days in which NAZ was down more than -5%. This table shows the average price changes over the 3 days.

Average TypeAverage Price Change
Days after:14710131619
Avg for Change ≥ -5% 5.3 2.6 4.3 7.5 9.3 9.3 10.3

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Also see: VIX price movement study.