Nuveen Municipal Value Fund (NYSE:NUV) Insider Buys $300,547.50 in Stock

Key Points

• Insider purchase: Young Robert bought 36,430 NUV shares at an average price of $8.25, totaling $300,547.50 and bringing direct ownership to 36,430 shares.
• Market and dividend update: NUV shares rose 0.4% to $8.32, while the fund declared a monthly dividend of $0.0325, equivalent to $0.39 annually and a 4.7% yield.
• Institutional interest: Several major investors increased or initiated positions, with institutional investors and hedge funds collectively owning 22.5% of the closed-end municipal bond fund.

Nuveen Municipal Value Fund, Inc. (NYSE:NUV - Get Free Report) insider Young Robert purchased 36,430 shares of the stock in a transaction dated Friday, October 23rd. The stock was acquired at an average price of $8.25 per share, for a total transaction of $300,547.50. Following the completion of the transaction, the insider directly owned 36,430 shares of the company's stock, valued at approximately $300,547.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Nuveen Municipal Value Fund Trading Up 0.4%

Shares of Nuveen Municipal Value Fund stock traded up $0.03 during trading on Tuesday, hitting $8.32. 1,205,201 shares of the company were exchanged, compared to its average volume of 672,115. Nuveen Municipal Value Fund, Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $9.26. The firm has a 50 day moving average price of $8.53 and a 200 day moving average price of $8.98.

Nuveen Municipal Value Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be issued a $0.0325 dividend. This represents a $0.39 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, October 15th.

Institutional Trading of Nuveen Municipal Value Fund

A number of large investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. raised its stake in Nuveen Municipal Value Fund by 17.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,862,303 shares of the closed-end fund's stock valued at $26,390,000 after purchasing an additional 422,222 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Nuveen Municipal Value Fund during the 2nd quarter worth about $11,867,000. Van ECK Associates Corp boosted its stake in shares of Nuveen Municipal Value Fund by 3.0% during the 2nd quarter. Van ECK Associates Corp now owns 1,098,087 shares of the closed-end fund's stock worth $10,124,000 after purchasing an additional 31,841 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Nuveen Municipal Value Fund by 8.7% during the first quarter. Royal Bank of Canada now owns 620,206 shares of the closed-end fund's stock worth $5,576,000 after buying an additional 49,645 shares in the last quarter. Finally, Tortoise Investment Management LLC purchased a new stake in shares of Nuveen Municipal Value Fund during the second quarter worth about $4,703,000. Institutional investors and hedge funds own 22.50% of the company's stock.

Nuveen Municipal Value Fund Company Profile

Nuveen Municipal Value Fund, Inc is a closed-end fund listed on the New York Stock Exchange under the symbol NUV. The fund seeks to provide current income exempt from regular federal income tax by investing primarily in a portfolio of municipal securities issued by states, cities, counties, and other governmental entities in the United States.

Its portfolio may include a range of tax-exempt obligations, such as general obligation bonds, revenue bonds, and other municipal debt securities.

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