Nuveen New York Municipal Value Fund (NYSE:NNY) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Shares of Nuveen New York Municipal Value Fund (NYSE:NNY - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.21 and traded as high as $8.64. Nuveen New York Municipal Value Fund shares last traded at $8.17, with a volume of 28,873 shares traded.

Nuveen New York Municipal Value Fund Price Performance

The business has a 50 day simple moving average of $8.16 and a two-hundred day simple moving average of $8.20.

Nuveen New York Municipal Value Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.0295 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.35 annualized dividend and a dividend yield of 4.37%.

Hedge Funds Weigh In On Nuveen New York Municipal Value Fund

Several institutional investors have recently made changes to their positions in NNY. Tortoise Investment Management LLC increased its stake in shares of Nuveen New York Municipal Value Fund by 13.2% during the fourth quarter. Tortoise Investment Management LLC now owns 1,015,670 shares of the investment management company's stock valued at $8,169,000 after buying an additional 118,684 shares during the period. Leigh Baldwin & CO. LLC purchased a new position in shares of Nuveen New York Municipal Value Fund during the fourth quarter valued at $848,000. Logan Stone Capital LLC purchased a new position in shares of Nuveen New York Municipal Value Fund during the fourth quarter valued at $765,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Nuveen New York Municipal Value Fund during the fourth quarter valued at $591,000. Finally, Wolverine Asset Management LLC increased its stake 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 valued at $1,349,000 after buying an additional 68,101 shares during the period. Hedge funds and other institutional investors own 22.57% of the company's stock.

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.