Nuveen New York Municipal Valu (NYSE:NNY) Share Price Passes Below 200 Day Moving Average – Should You Sell?

Shares of Nuveen New York Municipal Valu (NYSE:NNY) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.53 and traded as low as $8.40. Nuveen New York Municipal Valu shares last traded at $8.45, with a volume of 20,982 shares traded.

Nuveen New York Municipal Valu Trading Up 0.5%

The firm’s fifty day moving average is $8.50 and its 200 day moving average is $8.53.

Nuveen New York Municipal Valu Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a dividend of $0.0295 per share. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, May 15th.

Institutional Trading of Nuveen New York Municipal Valu

Several institutional investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC bought a new position in Nuveen New York Municipal Valu during the fourth quarter valued at approximately $25,000. Elyxium Wealth LLC bought a new position in Nuveen New York Municipal Valu during the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC bought a new position in Nuveen New York Municipal Valu during the fourth quarter valued at approximately $56,000. Citadel Advisors LLC bought a new position in Nuveen New York Municipal Valu during the third quarter valued at approximately $99,000. Finally, Virtu Financial LLC bought a new position in Nuveen New York Municipal Valu during the fourth quarter valued at approximately $113,000. 22.50% of the stock is currently owned by institutional investors and hedge funds.

About Nuveen New York Municipal Valu

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.