Nuveen New York Municipal Valu (NYSE:NNY) Share Price Crosses Below Two Hundred Day Moving Average - What's Next?

Key Points

• Nuveen New York Municipal Value Fund's stock price has fallen below its 200-day moving average, trading at $8.06 with a recent low of $8.04.
• The fund announced a monthly dividend of $0.0295 per share, with an annual yield of 4.4%, payable on September 2nd.
• Institutional ownership of the fund stands at 22.50%, with notable investments from firms such as Wells Fargo and Stifel Financial Corp.

Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.16 and traded as low as $8.04. Nuveen New York Municipal Valu shares last traded at $8.06, with a volume of 20,629 shares traded.

Nuveen New York Municipal Valu Price Performance

The business's 50-day moving average is $8.07 and its 200 day moving average is $8.15.

Nuveen New York Municipal Valu Dividend Announcement

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

Hedge Funds Weigh In On Nuveen New York Municipal Valu

A number of large investors have recently added to or reduced their stakes in NNY. Leigh Baldwin & CO. LLC purchased a new position in Nuveen New York Municipal Valu in the 4th quarter worth $848,000. Logan Stone Capital LLC purchased a new position in Nuveen New York Municipal Valu in the 4th quarter worth $765,000. Raymond James Financial Inc. purchased a new position in Nuveen New York Municipal Valu in the 4th quarter worth $373,000. Guggenheim Capital LLC boosted its position in Nuveen New York Municipal Valu by 9.6% during the 2nd quarter. Guggenheim Capital LLC now owns 367,343 shares of the investment management company's stock valued at $2,979,000 after buying an additional 32,272 shares during the period. Finally, 1607 Capital Partners LLC boosted its position in Nuveen New York Municipal Valu by 3.5% during the 1st quarter. 1607 Capital Partners LLC now owns 730,465 shares of the investment management company's stock valued at $6,034,000 after buying an additional 24,487 shares during the period. Hedge funds and other institutional investors own 22.50% of the company's stock.

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.