Nuveen New York Municipal Valu (NYSE:NNY) Stock Price Passes Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Shares of Nuveen New York Municipal Value Fund (NYSE: NNY) fell below its 200-day moving average
• The fund declared a monthly dividend of $0.0295 payable April 1 to holders of record March 13, implying an annualized distribution and a 4.3% yield.
• Institutional investors own about 22.5% of the company, with several firms (including Guggenheim and Hennion & Walsh) recently increasing their stakes.

Shares of Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.48 and traded as low as $8.16. Nuveen New York Municipal Valu shares last traded at $8.16, with a volume of 53,724 shares traded.

Nuveen New York Municipal Valu Price Performance

The business's 50-day simple moving average is $8.55 and its two-hundred day simple moving average is $8.48.

Nuveen New York Municipal Valu Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be paid a $0.0295 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, March 13th.

Institutional Investors Weigh In On Nuveen New York Municipal Valu

A number of hedge funds and other institutional investors have recently bought and sold shares of NNY. Guggenheim Capital LLC increased its holdings in Nuveen New York Municipal Valu by 9.6% in the 2nd quarter. Guggenheim Capital LLC now owns 367,343 shares of the investment management company's stock worth $2,979,000 after purchasing an additional 32,272 shares in the last quarter. BCS Private Wealth Management Inc. acquired a new stake in shares of Nuveen New York Municipal Valu during the second quarter valued at about $122,000. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Nuveen New York Municipal Valu by 22.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 254,265 shares of the investment management company's stock worth $2,100,000 after purchasing an additional 45,941 shares during the last quarter. Prospera Financial Services Inc grew its holdings in shares of Nuveen New York Municipal Valu by 54.2% during the third quarter. Prospera Financial Services Inc now owns 18,500 shares of the investment management company's stock worth $153,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. increased its stake in shares of Nuveen New York Municipal Valu by 5.0% in the third quarter. Marshall & Sterling Wealth Advisors Inc. now owns 58,798 shares of the investment management company's stock valued at $486,000 after buying an additional 2,792 shares during the period. Institutional investors own 22.50% of the company's stock.

Nuveen New York Municipal Valu Company Profile

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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