Nuveen New York Municipal Valu (NYSE:NNY) Shares Cross Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Shares of Nuveen New York Municipal Value Fund (NNY) briefly crossed above its 200-day moving average of $8.52, trading as high as $8.55 and last at $8.5150 while the 50-day average sits at $8.56.
• The fund declared a monthly dividend of $0.0295 per share payable June 1 (ex- and record date May 15), implying an annualized yield of about 4.2%.
• Multiple institutional investors — including UBS, Guggenheim, Hennion & Walsh and Osaic — increased or established positions in Q4, with institutions owning roughly 22.5% of the fund’s shares.

Shares of Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.52 and traded as high as $8.55. Nuveen New York Municipal Valu shares last traded at $8.5150, with a volume of 10,995 shares trading hands.

Nuveen New York Municipal Valu Stock Up 0.4%

The stock's fifty day simple moving average is $8.56 and its 200 day simple moving average is $8.52.

Nuveen New York Municipal Valu Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a $0.0295 dividend. The ex-dividend date is Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 4.2%.

Institutional Trading of Nuveen New York Municipal Valu

A number of hedge funds have recently bought and sold shares of NNY. UBS Group AG increased its holdings in shares of 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 last quarter. Guggenheim Capital LLC increased its holdings in shares of Nuveen New York Municipal Valu by 3.4% during the 4th quarter. Guggenheim Capital LLC now owns 414,328 shares of the investment management company's stock worth $3,547,000 after buying an additional 13,519 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Nuveen New York Municipal Valu by 62.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 412,635 shares of the investment management company's stock worth $3,534,000 after buying an additional 158,370 shares during the last quarter. Fiera Capital Corp acquired a new stake in shares of Nuveen New York Municipal Valu during the 4th quarter worth approximately $1,751,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Nuveen New York Municipal Valu by 14.0% during the 4th quarter. Osaic Holdings Inc. now owns 117,848 shares of the investment management company's stock worth $1,009,000 after buying an additional 14,494 shares during the last quarter. 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.

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