Nuveen New York Municipal Valu (NYSE:NNY) Plans $0.03 Monthly Dividend

Key Points

• Nuveen New York Municipal Value Fund (NYSE:NNY) will issue a monthly dividend of $0.03 per share to investors of record on September 15th, with payment scheduled for October 1st.
• The fund has a current yield of 4.4% and its stock is trading around $8.04, down $0.05 during mid-day trading.
• Investing primarily in tax-exempt municipal bonds, the fund targets bonds with a rating of Baa/BBB or higher in the New York fixed income markets.

Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report) announced a monthly dividend on Tuesday, September 2nd, Wall Street Journal reports. Shareholders of record on Monday, September 15th will be given a dividend of 0.0295 per share by the investment management company on Wednesday, October 1st. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Monday, September 15th.

Nuveen New York Municipal Valu Stock Up 0.9%

NYSE:NNY traded up $0.07 on Friday, reaching $8.14. 47,078 shares of the stock traded hands, compared to its average volume of 41,754. Nuveen New York Municipal Valu has a 12 month low of $7.77 and a 12 month high of $8.87. The company's fifty day simple moving average is $8.07 and its 200 day simple moving average is $8.14.

Institutional Trading of Nuveen New York Municipal Valu

Large investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in shares of Nuveen New York Municipal Valu in the first quarter worth approximately $87,000. Leigh Baldwin & CO. LLC grew its stake in shares of Nuveen New York Municipal Valu by 2.0% in the first quarter. Leigh Baldwin & CO. LLC now owns 107,592 shares of the investment management company's stock worth $889,000 after acquiring an additional 2,152 shares during the period. Grove Bank & Trust bought a new stake in shares of Nuveen New York Municipal Valu in the first quarter worth approximately $33,000. Tortoise Investment Management LLC grew its stake in shares of Nuveen New York Municipal Valu by 0.7% in the first quarter. Tortoise Investment Management LLC now owns 1,022,429 shares of the investment management company's stock worth $8,445,000 after acquiring an additional 6,759 shares during the period. Finally, 1607 Capital Partners LLC grew its stake in shares of Nuveen New York Municipal Valu by 3.5% in the first quarter. 1607 Capital Partners LLC now owns 730,465 shares of the investment management company's stock worth $6,034,000 after acquiring an additional 24,487 shares during the period. 22.50% of the stock is currently owned by institutional investors.

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.