Nuveen New York Municipal Valu (NYSE:NNY) Short Interest Up 176.8% in July

Key Points

• Nuveen New York Municipal Value Fund experienced a significant increase in short interest, rising 176.8% in July to 15,500 shares.
• Institutional investors have been actively acquiring positions in the fund, with Leigh Baldwin & CO. LLC and others investing over $2 million combined during the fourth quarter.
• The fund announced a monthly dividend of $0.0295 per share, resulting in an annualized dividend yield of 4.4% for stockholders of record as of July 15th.

Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totaling 15,500 shares, anincreaseof176.8% from the June 30th total of 5,600 shares. Based on an average trading volume of 38,800 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 38,800 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Nuveen New York Municipal Valu

Several large investors have recently added to or reduced their stakes in the company. Grove Bank & Trust purchased a new position in shares of Nuveen New York Municipal Valu during the first quarter valued at approximately $33,000. Opal Wealth Advisors LLC purchased a new stake in Nuveen New York Municipal Valu in the first quarter worth about $36,000. XTX Topco Ltd purchased a new stake in shares of Nuveen New York Municipal Valu during the first quarter worth about $87,000. Realta Investment Advisors grew its holdings in Nuveen New York Municipal Valu by 71.3% during 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. Finally, Nomura Holdings Inc. purchased a new position in Nuveen New York Municipal Valu during the 4th quarter valued at approximately $196,000. Hedge funds and other institutional investors own 22.57% of the company's stock.

Nuveen New York Municipal Valu Stock Performance

NYSE:NNY traded down $0.05 on Friday, reaching $8.10. 41,844 shares of the stock traded hands, compared to its average volume of 44,681. The company's 50 day moving average is $8.08 and its 200-day moving average is $8.17. Nuveen New York Municipal Valu has a 1-year low of $7.77 and a 1-year high of $8.87.

Nuveen New York Municipal Valu Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a dividend of $0.0295 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a c) annualized dividend and a dividend yield of 4.4%.

Nuveen New York Municipal Valu Company Profile

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.