Nuveen New York Municipal Valu (NYSE:NNY) Shares Break Below 200 Day Moving Average – Here’s Why

Shares of Nuveen New York Municipal Valu (NYSE:NNY) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $8.37 and traded as low as $7.87. Nuveen New York Municipal Valu shares last traded at $8.0050, with a volume of 67,810 shares.

Nuveen New York Municipal Valu Stock Performance

The company’s 50 day moving average price is $8.04 and its 200-day moving average price is $8.37.

Nuveen New York Municipal Valu Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.0295 per share. This represents a $0.35 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Thursday, October 15th.

Institutional Trading of Nuveen New York Municipal Valu

Large investors have recently bought and sold shares of the company. Breakwater Capital Group raised its stake in shares of Nuveen New York Municipal Valu by 6.6% in the third quarter. Breakwater Capital Group now owns 31,341 shares of the investment management company’s stock valued at $244,000 after buying an additional 1,935 shares during the period. CoreCap Advisors LLC bought a new position in shares of Nuveen New York Municipal Valu during the 3rd quarter worth $26,000. Susquehanna International Group LLP grew its stake in shares of Nuveen New York Municipal Valu by 14.1% during the 2nd quarter. Susquehanna International Group LLP now owns 15,601 shares of the investment management company’s stock worth $136,000 after acquiring an additional 1,933 shares during the period. Cetera Investment Advisers grew its stake in shares of Nuveen New York Municipal Valu by 26.2% during the 1st quarter. Cetera Investment Advisers now owns 18,585 shares of the investment management company’s stock worth $155,000 after acquiring an additional 3,858 shares during the period. Finally, Kestra Advisory Services LLC purchased a new stake in Nuveen New York Municipal Valu in the 1st quarter worth about $157,000. 22.50% of the stock is owned by hedge funds and other institutional investors.

About Nuveen New York Municipal Valu

Nuveen New York Municipal Value Fund (NYSE: NNY) is a closed-end investment company designed to provide current income that is exempt from regular federal income tax and New York State and New York City personal income taxes, subject to applicable tax rules. The fund is intended for investors seeking tax-advantaged income and may also pursue capital appreciation as a secondary objective.

The fund invests primarily in municipal securities issued by New York State, its municipalities and public authorities, as well as other qualifying issuers.