Nuveen New York Municipal Valu (NYSE:NNY) Shares Pass Below 200-Day Moving Average – What’s Next?

Shares of Nuveen New York Municipal Valu (NYSE:NNY) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.50 and traded as low as $8.02. Nuveen New York Municipal Valu shares last traded at $8.0250, with a volume of 75,431 shares trading hands.

Nuveen New York Municipal Valu Price Performance

The business’s 50-day moving average is $8.35 and its two-hundred day moving average is $8.49.

Nuveen New York Municipal Valu Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0295 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 15th.

Hedge Funds Weigh In On Nuveen New York Municipal Valu

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG raised its stake in Nuveen New York Municipal Valu by 3.9% during the 4th quarter. UBS Group AG now owns 538,911 shares of the investment management company’s stock worth $4,615,000 after buying an additional 20,349 shares during the period. Guggenheim Capital LLC grew its stake in Nuveen New York Municipal Valu by 3.4% in the fourth quarter. Guggenheim Capital LLC now owns 414,328 shares of the investment management company’s stock valued at $3,547,000 after acquiring an additional 13,519 shares during the period. Fiera Capital Corp bought a new stake in shares of Nuveen New York Municipal Valu in the fourth quarter worth about $1,751,000. Leigh Baldwin & CO. LLC raised its position in shares of Nuveen New York Municipal Valu by 2.6% during the first quarter. Leigh Baldwin & CO. LLC now owns 119,818 shares of the investment management company’s stock worth $1,000,000 after purchasing an additional 3,086 shares during the period. Finally, Osaic Holdings Inc. raised its position in shares of Nuveen New York Municipal Valu by 14.0% during the fourth quarter. Osaic Holdings Inc. now owns 117,848 shares of the investment management company’s stock worth $1,009,000 after purchasing an additional 14,494 shares during the period. Institutional investors and hedge funds own 22.50% of the company’s stock.

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.