True North Advisors LLC Buys Shares of 510,777 Nuveen Municipal Value Fund, Inc. (NYSE:NUV)

Key Points

• True North Advisors LLC made a new investment of approximately $4.48 million in shares of Nuveen Municipal Value Fund, acquiring 510,777 shares during the first quarter.
• Nuveen Municipal Value Fund's stock has a current price of $8.60, with a 52-week range between $8.38 and $9.15.
• The fund is set to pay a monthly dividend of $0.0325 per share on September 2nd, representing an annualized dividend yield of 4.5%.

True North Advisors LLC acquired a new position in Nuveen Municipal Value Fund, Inc. (NYSE:NUV - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 510,777 shares of the closed-end fund's stock, valued at approximately $4,480,000. Nuveen Municipal Value Fund accounts for about 0.8% of True North Advisors LLC's portfolio, making the stock its 25th largest holding. True North Advisors LLC owned about 0.25% of Nuveen Municipal Value Fund at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Nuveen Municipal Value Fund during the fourth quarter worth about $19,874,000. Kovitz Investment Group Partners LLC increased its stake in shares of Nuveen Municipal Value Fund by 69.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,954,981 shares of the closed-end fund's stock worth $16,793,000 after purchasing an additional 800,998 shares in the last quarter. 1607 Capital Partners LLC increased its stake in shares of Nuveen Municipal Value Fund by 24.8% during the fourth quarter. 1607 Capital Partners LLC now owns 2,655,203 shares of the closed-end fund's stock worth $22,808,000 after purchasing an additional 526,883 shares in the last quarter. Broyhill Asset Management purchased a new stake in shares of Nuveen Municipal Value Fund during the fourth quarter worth about $4,327,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Nuveen Municipal Value Fund by 27.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 1,722,971 shares of the closed-end fund's stock worth $15,110,000 after purchasing an additional 368,559 shares in the last quarter. Institutional investors and hedge funds own 22.50% of the company's stock.

Nuveen Municipal Value Fund Stock Down 0.1%

Shares of NUV stock traded down $0.01 on Monday, reaching $8.64. 485,846 shares of the company were exchanged, compared to its average volume of 427,617. Nuveen Municipal Value Fund, Inc. has a 1 year low of $8.38 and a 1 year high of $9.15. The business has a 50-day moving average price of $8.60 and a 200 day moving average price of $8.66.

Nuveen Municipal Value Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a dividend of $0.0325 per share. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, August 15th.

Nuveen Municipal Value Fund Profile

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.