Nuveen Municipal Value Fund, Inc. $NUV Shares Sold by Tortoise Investment Management LLC

Key Points

• Tortoise Investment Management LLC reduced its stake in Nuveen Municipal Value Fund by 26.0%, selling 478,299 shares in the first quarter, leaving it with approximately 1.36 million shares.
• Nuveen Municipal Value Fund recently announced a monthly dividend of $0.0325 per share, translating to an annualized yield of 4.5%.
• Institutional investors own 22.50% of the Nuveen Municipal Value Fund stock, with several investors increasing their holdings in recent quarters.

Tortoise Investment Management LLC lowered its holdings in shares of Nuveen Municipal Value Fund, Inc. (NYSE:NUV - Free Report) by 26.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,359,761 shares of the closed-end fund's stock after selling 478,299 shares during the period. Nuveen Municipal Value Fund accounts for 1.2% of Tortoise Investment Management LLC's investment portfolio, making the stock its 26th largest holding. Tortoise Investment Management LLC owned 0.66% of Nuveen Municipal Value Fund worth $11,925,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its stake in Nuveen Municipal Value Fund by 274.5% during the 1st quarter. Farther Finance Advisors LLC now owns 3,869 shares of the closed-end fund's stock worth $34,000 after purchasing an additional 2,836 shares during the period. Private Trust Co. NA boosted its stake in Nuveen Municipal Value Fund by 109.4% during the 1st quarter. Private Trust Co. NA now owns 5,723 shares of the closed-end fund's stock worth $50,000 after purchasing an additional 2,990 shares during the period. Summit X LLC purchased a new position in Nuveen Municipal Value Fund during the 1st quarter worth $393,000. Hennion & Walsh Asset Management Inc. raised its position in Nuveen Municipal Value Fund by 27.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 1,722,971 shares of the closed-end fund's stock worth $15,110,000 after buying an additional 368,559 shares during the last quarter. Finally, True North Advisors LLC purchased a new position in Nuveen Municipal Value Fund during the 1st quarter worth $4,480,000. Institutional investors and hedge funds own 22.50% of the company's stock.

Nuveen Municipal Value Fund Stock Down 0.1%

Nuveen Municipal Value Fund stock traded down $0.01 during trading hours on Monday, reaching $8.68. 485,604 shares of the stock were exchanged, compared to its average volume of 460,955. Nuveen Municipal Value Fund, Inc. has a 52-week low of $8.38 and a 52-week high of $9.15. The firm's 50 day moving average is $8.62 and its 200 day moving average is $8.65.

Nuveen Municipal Value Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be issued a $0.0325 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, August 15th.

About Nuveen Municipal Value Fund

Nuveen Municipal Value Fund, Inc is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund also invests some portion of its portfolio in derivative instruments.