Short Interest in Nuveen New York Municipal Valu (NYSE:NNY) Drops By 63.5%

Key Points

• Short interest fell 63.5% to 5,065 shares as of August 14, down from 13,890 shares on July 30. Short interest represented approximately 0.0% of outstanding shares, with a days-to-cover ratio of 0.1.
• NNY traded flat at $8.17, within a 12-month range of $8.02 to $8.94. The fund declared a monthly dividend of $0.0295 per share, equivalent to an annualized yield of approximately 4.3%.
• Institutional investors own 22.5% of the fund, with several firms—including UBS Group, Raymond James Financial and Leigh Baldwin—recently increasing their positions or initiating stakes.

Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report) saw a large drop in short interest in August. As of August 14th, there was short interest totaling 5,065 shares, a drop of 63.5% from the July 30th total of 13,890 shares. Based on an average trading volume of 40,914 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Nuveen New York Municipal Valu Price Performance

NNY stock remained flat at $8.17 during midday trading on Friday. The company had a trading volume of 27,141 shares, compared to its average volume of 34,814. Nuveen New York Municipal Valu has a twelve month low of $8.02 and a twelve month high of $8.94. The firm has a 50 day moving average of $8.47 and a two-hundred day moving average of $8.52.

Nuveen New York Municipal Valu Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.0295 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, August 14th.

Institutional Trading of Nuveen New York Municipal Valu

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fiera Capital Corp bought a new position in Nuveen New York Municipal Valu in the 4th quarter valued at approximately $1,751,000. Raymond James Financial Inc. boosted its position in Nuveen New York Municipal Valu by 71.2% during the 3rd quarter. Raymond James Financial Inc. now owns 68,416 shares of the investment management company's stock worth $565,000 after buying an additional 28,449 shares during the period. Corient Private Wealth LLC bought a new stake in Nuveen New York Municipal Valu during the 4th quarter worth approximately $220,000. Leigh Baldwin & CO. LLC grew its holdings in Nuveen New York Municipal Valu by 27.0% during the 4th quarter. Leigh Baldwin & CO. LLC now owns 116,732 shares of the investment management company's stock worth $1,000,000 after acquiring an additional 24,839 shares during the last quarter. Finally, UBS Group AG increased its position in Nuveen New York Municipal Valu by 3.9% in the 4th quarter. UBS Group AG now owns 538,911 shares of the investment management company's stock valued at $4,615,000 after acquiring an additional 20,349 shares during the period. 22.50% of the stock is currently owned by institutional investors.

Nuveen New York Municipal Valu Company Profile

Nuveen New York Municipal Value Fund, Inc NYSE: NNY is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal and New York State income taxes. The fund primarily invests in investment-grade municipal securities issued by public issuers in the State of New York, including general obligation bonds and revenue bonds issued to finance essential public projects such as schools, transportation infrastructure and utility systems.

As a diversified municipal bond fund, NNY's portfolio spans a broad range of maturities and credit qualities within the investment-grade universe.

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