Nuveen New York Municipal Valu (NYSE:NNY) Shares Cross Above 200 Day Moving Average – Time to Sell?

Nuveen New York Municipal Valu (NYSE:NNY) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.41 and traded as high as $8.73. Nuveen New York Municipal Valu shares last traded at $8.65, with a volume of 10,075 shares changing hands.

Nuveen New York Municipal Valu Stock Up 1.5%

The firm’s 50-day moving average price is $8.58 and its 200 day moving average price is $8.41.

Nuveen New York Municipal Valu Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be paid a dividend of $0.0295 per share. The ex-dividend date is Friday, February 13th. This represents a c) annualized dividend and a yield of 4.0%.

Hedge Funds Weigh In On Nuveen New York Municipal Valu

Hedge funds and other institutional investors have recently modified their holdings of the business. Fiera Capital Corp bought a new stake in shares of Nuveen New York Municipal Valu during the 4th quarter worth $1,751,000. Hennion & Walsh Asset Management Inc. increased its holdings in Nuveen New York Municipal Valu by 62.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 412,635 shares of the investment management company’s stock worth $3,534,000 after purchasing an additional 158,370 shares in the last quarter. Guggenheim Capital LLC raised its position in Nuveen New York Municipal Valu by 9.6% in the second quarter. Guggenheim Capital LLC now owns 367,343 shares of the investment management company’s stock valued at $2,979,000 after purchasing an additional 32,272 shares during the last quarter. Raymond James Financial Inc. boosted its stake in shares of Nuveen New York Municipal Valu by 71.2% during the third quarter. Raymond James Financial Inc. now owns 68,416 shares of the investment management company’s stock valued at $565,000 after purchasing an additional 28,449 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new stake in shares of Nuveen New York Municipal Valu during the fourth quarter worth about $220,000. Institutional investors own 22.50% of the company’s stock.

Nuveen New York Municipal Valu Company Profile

Nuveen New York Municipal Value Fund, Inc (NYSE: NNY) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal and New York State income taxes. The fund primarily invests in investment-grade municipal securities issued by public issuers in the State of New York, including general obligation bonds and revenue bonds issued to finance essential public projects such as schools, transportation infrastructure and utility systems.

As a diversified municipal bond fund, NNY’s portfolio spans a broad range of maturities and credit qualities within the investment-grade universe.