Nuveen New York Municipal Valu (NYSE:NNY) Shares Cross Below Two Hundred Day Moving Average - Here's Why

Key Points

• NNY shares slipped below their 200-day moving average — the 200-day MA is $8.52, the stock traded as low as $8.52 and last traded at $8.5350 on a volume of 36,529 shares (50-day MA is $8.57).
• Monthly dividend announced: a $0.0295 payout will be paid May 1 to holders of record on April 15 (ex-dividend date April 15), implying a roughly 4.1% yield.
• Institutional activity: several firms (including Corient, Virtu, Guggenheim, Osaic and Wells Fargo) added or initiated positions in the fund during Q4, with institutional investors now owning about 22.50% of the shares.

Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.52 and traded as low as $8.52. Nuveen New York Municipal Valu shares last traded at $8.5350, with a volume of 36,529 shares traded.

Nuveen New York Municipal Valu Price Performance

The stock's fifty day moving average is $8.57 and its two-hundred day moving average is $8.52.

Nuveen New York Municipal Valu Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be issued a $0.0295 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, April 15th.

Institutional Investors Weigh In On Nuveen New York Municipal Valu

A number of institutional investors and hedge funds have recently made changes to their positions in NNY. Corient Private Wealth LLC purchased a new stake in Nuveen New York Municipal Valu in the 4th quarter valued at about $220,000. Virtu Financial LLC purchased a new stake in Nuveen New York Municipal Valu in the 4th quarter valued at about $113,000. Guggenheim Capital LLC increased its stake in Nuveen New York Municipal Valu by 3.4% in the 4th quarter. Guggenheim Capital LLC now owns 414,328 shares of the investment management company's stock valued at $3,547,000 after buying an additional 13,519 shares during the last quarter. Osaic Holdings Inc. increased its stake in Nuveen New York Municipal Valu by 14.0% in the 4th quarter. Osaic Holdings Inc. now owns 117,848 shares of the investment management company's stock valued at $1,009,000 after buying an additional 14,494 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Nuveen New York Municipal Valu by 7.6% in the 4th quarter. Wells Fargo & Company MN now owns 75,138 shares of the investment management company's stock valued at $643,000 after buying an additional 5,325 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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