Short Interest in Nuveen New York Municipal Valu (NYSE:NNY) Drops By 35.3%

Key Points

• Short interest in Nuveen New York Municipal Value (NYSE:NNY) decreased by 35.3% in August, dropping from 16,700 shares to 10,800 shares, resulting in a short-interest ratio of 0.3 days based on average trading volume.
• Several institutional investors have purchased new positions in the fund, leading to increased ownership among hedge funds and institutional investors to 22.50% of the stock.
• Nuveen New York Municipal Value Fund declared a monthly dividend of $0.0295, with an annualized yield of 4.3%, scheduled for payment on October 1st to stockholders of record as of September 15th.

Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totaling 10,800 shares, a decrease of 35.3% from the July 31st total of 16,700 shares. Based on an average daily volume of 42,000 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 42,000 shares, the days-to-cover ratio is currently 0.3 days.

Nuveen New York Municipal Valu Price Performance

Shares of NYSE:NNY remained flat at $8.27 during midday trading on Friday. The stock had a trading volume of 61,365 shares, compared to its average volume of 40,479. Nuveen New York Municipal Valu has a 1-year low of $7.77 and a 1-year high of $8.87. The business has a 50 day moving average of $8.08 and a two-hundred day moving average of $8.14.

Nuveen New York Municipal Valu Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.0295 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a c) annualized dividend and a yield of 4.3%.

Institutional Trading of Nuveen New York Municipal Valu

Large investors have recently made changes to their positions in the company. Grove Bank & Trust bought a new stake in shares of Nuveen New York Municipal Valu in the 1st quarter valued at $33,000. Opal Wealth Advisors LLC bought a new stake in shares of Nuveen New York Municipal Valu in the 1st quarter valued at $36,000. XTX Topco Ltd bought a new stake in shares of Nuveen New York Municipal Valu in the 1st quarter valued at $87,000. BCS Private Wealth Management Inc. bought a new stake in shares of Nuveen New York Municipal Valu in the 2nd quarter valued at $122,000. Finally, Realta Investment Advisors increased its position in shares of Nuveen New York Municipal Valu by 71.3% in the 2nd quarter. Realta Investment Advisors now owns 17,338 shares of the investment management company's stock valued at $141,000 after buying an additional 7,218 shares in the last quarter. Institutional investors own 22.50% of the company's stock.

About Nuveen New York Municipal Valu

Nuveen New York 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 New York. The fund invests in tax exempt municipal bonds, with a rating of Baa/BBB or higher.