Nuveen New York Municipal Value Fund (NYSE:NNY) Shares Pass Above 200 Day Moving Average - Should You Sell?

Nuveen New York Municipal Value Fund (NYSE:NNY - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-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 Trading Down 0.4%

The company has a fifty day simple moving average of $8.17 and a two-hundred day simple moving average of $8.20.

Nuveen New York Municipal Value Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $0.0295 dividend. This represents a $0.35 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Friday, June 13th.

Hedge Funds Weigh In On Nuveen New York Municipal Value Fund

Several hedge funds have recently added to or reduced their stakes in NNY. Grove Bank & Trust acquired a new position in Nuveen New York Municipal Value Fund in the first quarter valued at about $33,000. Opal Wealth Advisors LLC acquired a new stake in shares of Nuveen New York Municipal Value Fund during the first quarter worth about $36,000. Pacific Wealth Strategies Group Inc. acquired a new stake in shares of Nuveen New York Municipal Value Fund during the fourth quarter worth about $80,000. XTX Topco Ltd acquired a new stake in shares of Nuveen New York Municipal Value Fund during the first quarter worth about $87,000. Finally, Nomura Holdings Inc. acquired a new stake in shares of Nuveen New York Municipal Value Fund during the fourth quarter worth about $196,000. Institutional investors and hedge funds 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.