Nuveen New York Municipal Valu (NYSE:NNY) Short Interest Up 36.5% in May

Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report) was the recipient of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 13,100 shares, a growth of 36.5% from the May 15th total of 9,600 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 41,200 shares, the days-to-cover ratio is currently 0.3 days.

Nuveen New York Municipal Valu Trading Up 0.1%

Shares of NNY stock traded up $0.01 during mid-day trading on Friday, reaching $8.05. The company's stock had a trading volume of 14,929 shares, compared to its average volume of 50,674. The firm's 50-day moving average is $8.15 and its two-hundred day moving average is $8.19. 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 declared a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.0295 dividend. This represents a $0.35 annualized dividend and a yield of 4.40%. The ex-dividend date is Friday, June 13th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NNY. Grove Bank & Trust bought a new stake in shares of Nuveen New York Municipal Valu in the 1st quarter valued at approximately $33,000. Opal Wealth Advisors LLC bought a new stake in Nuveen New York Municipal Valu in the first quarter valued at $36,000. XTX Topco Ltd acquired a new position in Nuveen New York Municipal Valu during the first quarter worth $87,000. Nomura Holdings Inc. bought a new position in shares of Nuveen New York Municipal Valu during the fourth quarter valued at $196,000. Finally, Stifel Financial Corp boosted its stake in shares of Nuveen New York Municipal Valu by 3.9% in the 4th quarter. Stifel Financial Corp now owns 38,712 shares of the investment management company's stock valued at $311,000 after purchasing an additional 1,440 shares in the last quarter. Institutional investors own 22.57% 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.