Nuveen New York Municipal Value Fund (NYSE:NNY) Sees Large Increase in Short Interest

Nuveen New York Municipal Value Fund (NYSE:NNY - Get Free Report) was the recipient of a significant growth in short interest during 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. Currently, 0.1% of the company's stock are short sold. Based on an average daily trading volume, of 41,200 shares, the days-to-cover ratio is presently 0.3 days.

Nuveen New York Municipal Value Fund Stock Performance

Nuveen New York Municipal Value Fund stock opened at $8.08 on Tuesday. The stock's fifty day moving average is $8.15 and its two-hundred day moving average is $8.19. Nuveen New York Municipal Value Fund has a 1-year low of $7.77 and a 1-year high of $8.87.

Nuveen New York Municipal Value Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.0295 per share. This represents a $0.35 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend is Friday, June 13th.

Hedge Funds Weigh In On Nuveen New York Municipal Value Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tortoise Investment Management LLC lifted its position in shares of Nuveen New York Municipal Value Fund by 0.7% during the 1st quarter. Tortoise Investment Management LLC now owns 1,022,429 shares of the investment management company's stock worth $8,445,000 after buying an additional 6,759 shares during the last quarter. 1607 Capital Partners LLC lifted its position in Nuveen New York Municipal Value Fund by 3.5% in the first quarter. 1607 Capital Partners LLC now owns 730,465 shares of the investment management company's stock valued at $6,034,000 after acquiring an additional 24,487 shares during the last quarter. Guggenheim Capital LLC boosted its stake in Nuveen New York Municipal Value Fund by 6.3% in the fourth quarter. Guggenheim Capital LLC now owns 337,840 shares of the investment management company's stock valued at $2,716,000 after acquiring an additional 19,974 shares in the last quarter. Wolverine Asset Management LLC grew its holdings in shares of Nuveen New York Municipal Value Fund by 68.3% during the fourth quarter. Wolverine Asset Management LLC now owns 167,757 shares of the investment management company's stock worth $1,349,000 after purchasing an additional 68,101 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC increased its position in shares of Nuveen New York Municipal Value Fund by 2.0% during the first quarter. Leigh Baldwin & CO. LLC now owns 107,592 shares of the investment management company's stock worth $889,000 after purchasing an additional 2,152 shares in the last quarter. 22.57% of the stock is owned by institutional investors and hedge funds.

Nuveen New York Municipal Value Fund 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.

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