Short Interest in Nuveen New York Municipal Value Fund (NYSE:NNY) Drops By 39.4%

Nuveen New York Municipal Value Fund (NYSE:NNY - Get Free Report) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 15,100 shares, a decline of 39.4% from the March 31st total of 24,900 shares. Approximately 0.1% of the company's stock are sold short. Based on an average daily trading volume, of 50,200 shares, the days-to-cover ratio is currently 0.3 days.

Nuveen New York Municipal Value Fund Stock Up 0.1 %

Shares of Nuveen New York Municipal Value Fund stock traded up $0.01 on Friday, hitting $8.24. The company had a trading volume of 69,255 shares, compared to its average volume of 50,977. Nuveen New York Municipal Value Fund has a twelve month low of $7.86 and a twelve month high of $8.70. The stock has a 50-day moving average of $8.19 and a 200-day moving average of $8.23.

Nuveen New York Municipal Value Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a $0.0295 dividend. This represents a $0.35 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Thursday, May 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NNY. Stifel Financial Corp boosted its position in Nuveen New York Municipal Value Fund by 3.9% during the 4th quarter. Stifel Financial Corp now owns 38,712 shares of the investment management company's stock worth $311,000 after acquiring an additional 1,440 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Nuveen New York Municipal Value Fund by 2.8% in the fourth quarter. Wells Fargo & Company MN now owns 64,720 shares of the investment management company's stock worth $521,000 after purchasing an additional 1,783 shares in the last quarter. Grove Bank & Trust acquired a new position in Nuveen New York Municipal Value Fund during the first quarter worth $33,000. Opal Wealth Advisors LLC bought a new stake in Nuveen New York Municipal Value Fund during the 1st quarter worth about $36,000. Finally, Pacific Wealth Strategies Group Inc. bought a new position in shares of Nuveen New York Municipal Value Fund in the 4th quarter valued at about $80,000. 22.57% of the stock is currently owned by institutional investors.

About Nuveen New York Municipal Value Fund

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.