Nuveen New York Municipal Valu (NYSE:NNY) Stock Short Interest Report for September

Key Points

• Short interest surged 249.5% in September to 17,540 shares, though only about 0.1% of NNY’s outstanding shares are short and the days-to-cover ratio remains low at 0.3 days.
• NNY recently traded at $8.01, within its $7.55–$8.94 12-month range, while its 50-day and 200-day moving averages stood at $8.04 and $8.37, respectively.
• The fund announced a monthly dividend of $0.0295, equivalent to an annualized $0.35 payout and a 4.4% yield; institutional investors and hedge funds own 22.5% of the shares.

Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 17,540 shares, a growth of 249.5% from the September 15th total of 5,018 shares. Based on an average trading volume of 69,201 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are short sold.

Nuveen New York Municipal Valu Price Performance

NYSE:NNY traded up $0.10 during trading hours on Friday, hitting $8.01. 67,810 shares of the company traded hands, compared to its average volume of 75,102. Nuveen New York Municipal Valu has a twelve month low of $7.55 and a twelve month high of $8.94. The firm has a 50-day moving average of $8.04 and a 200 day moving average of $8.37.

Nuveen New York Municipal Valu Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be paid a $0.0295 dividend. This represents a $0.35 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Thursday, October 15th.

Institutional Investors Weigh In On Nuveen New York Municipal Valu

Institutional investors have recently added to or reduced their stakes in the company. Breakwater Capital Group raised its holdings in shares of Nuveen New York Municipal Valu by 6.6% in the 3rd quarter. Breakwater Capital Group now owns 31,341 shares of the investment management company's stock worth $244,000 after buying an additional 1,935 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in Nuveen New York Municipal Valu in the 3rd quarter valued at $26,000. Susquehanna International Group LLP grew its position in Nuveen New York Municipal Valu by 14.1% in the second quarter. Susquehanna International Group LLP now owns 15,601 shares of the investment management company's stock valued at $136,000 after acquiring an additional 1,933 shares during the period. Leigh Baldwin & CO. LLC grew its position in Nuveen New York Municipal Valu by 2.6% in the first quarter. Leigh Baldwin & CO. LLC now owns 119,818 shares of the investment management company's stock valued at $1,000,000 after acquiring an additional 3,086 shares during the period. Finally, Cetera Investment Advisers raised its stake in Nuveen New York Municipal Valu by 26.2% during the first quarter. Cetera Investment Advisers now owns 18,585 shares of the investment management company's stock worth $155,000 after acquiring an additional 3,858 shares in the last quarter. 22.50% of the stock is owned by institutional investors and hedge funds.

About Nuveen New York Municipal Valu

Nuveen New York Municipal Value Fund NYSE: NNY is a closed-end investment company designed to provide current income that is exempt from regular federal income tax and New York State and New York City personal income taxes, subject to applicable tax rules. The fund is intended for investors seeking tax-advantaged income and may also pursue capital appreciation as a secondary objective.

The fund invests primarily in municipal securities issued by New York State, its municipalities and public authorities, as well as other qualifying issuers.

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