Nuveen Municipal Value Fund (NYSE:NUV) Sees Large Volume Increase - Here's Why

Key Points

• Trading volume rose 22% to approximately 798,738 shares, while NUV shares fell 1.6% to $8.226, below both its 50-day and 200-day moving averages.
• Nuveen Municipal Value Fund declared a monthly dividend of $0.0325 per share, equivalent to $0.39 annually and a 4.7% yield.
• Institutional investors made notable purchases during the second quarter, and hedge funds and institutions now own 22.5% of the fund.

Shares of Nuveen Municipal Value Fund, Inc. (NYSE:NUV - Get Free Report) saw strong trading volume on Friday. Approximately 798,738 shares traded hands during mid-day trading, an increase of 22% from the previous session's volume of 657,379 shares. The stock last traded at $8.2260 and had previously closed at $8.39.

Nuveen Municipal Value Fund Trading Down 1.6%

The stock's 50-day simple moving average is $8.56 and its 200 day simple moving average is $8.92.

Nuveen Municipal Value Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be issued a $0.0325 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.39 dividend on an annualized basis and a yield of 4.7%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE acquired a new stake in Nuveen Municipal Value Fund during the second quarter worth about $11,867,000. Tortoise Investment Management LLC bought a new position in Nuveen Municipal Value Fund in the second quarter valued at approximately $4,703,000. Hennion & Walsh Asset Management Inc. increased its stake in Nuveen Municipal Value Fund by 17.3% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 2,862,303 shares of the closed-end fund's stock valued at $26,390,000 after acquiring an additional 422,222 shares during the last quarter. Ehrlich Financial Group raised its position in Nuveen Municipal Value Fund by 210.8% during the second quarter. Ehrlich Financial Group now owns 356,385 shares of the closed-end fund's stock valued at $3,286,000 after purchasing an additional 241,716 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Nuveen Municipal Value Fund during the second quarter valued at approximately $2,058,000. Institutional investors and hedge funds own 22.50% of the company's stock.

Nuveen Municipal Value Fund Company Profile

Nuveen Municipal Value Fund, Inc is a closed-end fund listed on the New York Stock Exchange under the symbol NUV. The fund seeks to provide current income exempt from regular federal income tax by investing primarily in a portfolio of municipal securities issued by states, cities, counties, and other governmental entities in the United States.

Its portfolio may include a range of tax-exempt obligations, such as general obligation bonds, revenue bonds, and other municipal debt securities.

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