Nuveen Municipal Value Fund (NYSE:NUV) Stock Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• NUV shares fell below their 200-day moving average of $8.94, trading as low as $8.23 before closing near $8.26 on elevated volume.
• The fund declared a monthly dividend of $0.0325 per share, equivalent to $0.39 annually and a 4.7% yield; the payment is scheduled for November 2 to shareholders of record October 15.
• Institutional investors own 22.5% of NUV, with several firms recently increasing their positions or acquiring new stakes. The closed-end fund invests primarily in municipal securities to generate federally tax-exempt income.

Nuveen Municipal Value Fund, Inc. (NYSE:NUV - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $8.94 and traded as low as $8.23. Nuveen Municipal Value Fund shares last traded at $8.2590, with a volume of 1,523,189 shares changing hands.

Nuveen Municipal Value Fund Price Performance

The firm has a 50-day moving average of $8.60 and a 200 day moving average of $8.94.

Nuveen Municipal Value Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors 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 annualized dividend and a yield of 4.7%.

Hedge Funds Weigh In On Nuveen Municipal Value Fund

A number of institutional investors and hedge funds have recently bought and sold shares of NUV. Capital Advisors Wealth Management LLC boosted its holdings in shares of Nuveen Municipal Value Fund by 11.3% during the third quarter. Capital Advisors Wealth Management LLC now owns 62,063 shares of the closed-end fund's stock worth $515,000 after purchasing an additional 6,284 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Nuveen Municipal Value Fund by 24.9% in the second quarter. Envestnet Asset Management Inc. now owns 54,879 shares of the closed-end fund's stock worth $506,000 after buying an additional 10,941 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Nuveen Municipal Value Fund in the 2nd quarter worth approximately $170,000. Baird Financial Group Inc. lifted its stake in shares of Nuveen Municipal Value Fund by 0.6% in the second quarter. Baird Financial Group Inc. now owns 221,506 shares of the closed-end fund's stock worth $2,042,000 after buying an additional 1,340 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in Nuveen Municipal Value Fund during the second quarter valued at about $155,000. Institutional investors own 22.50% of the company's stock.

About Nuveen Municipal Value Fund

Nuveen Municipal Value Fund NYSE: NUV is a closed-end investment fund managed by Nuveen Asset Management, LLC. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal securities issued by states, cities, counties and other governmental entities.

Its portfolio may include a broad range of investment-grade and below-investment-grade municipal bonds, including general obligation and revenue bonds. These securities can finance public infrastructure and services such as schools, transportation systems, utilities and health care facilities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.