Nuveen New York Municipal Valu (NYSE:NNY) Shares Break Below 200-Day Moving Average - Time to Sell?

Key Points

• NNY shares fell below their 200-day moving average, trading as low as $7.74 and most recently at $7.78, compared with a 200-day average of $8.43.
• The fund declared a monthly dividend of $0.0295 per share, equivalent to about $0.35 annually and a 4.6% yield.
• Institutional investors have adjusted their positions, with several firms increasing or initiating stakes; hedge funds and other institutions own approximately 22.5% of the fund.

Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report)'s share price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $8.43 and traded as low as $7.74. Nuveen New York Municipal Valu shares last traded at $7.78, with a volume of 63,822 shares changing hands.

Nuveen New York Municipal Valu Price Performance

The business has a 50 day moving average price of $8.15 and a two-hundred day moving average price of $8.43.

Nuveen New York Municipal Valu Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.0295 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.35 dividend on an annualized basis and a yield of 4.6%.

Institutional Investors Weigh In On Nuveen New York Municipal Valu

A number of institutional investors have recently added to or reduced their stakes in the stock. Fiera Capital Corp purchased a new position in shares of Nuveen New York Municipal Valu in the 4th quarter worth $1,751,000. Kestra Advisory Services LLC purchased a new stake in shares of Nuveen New York Municipal Valu during the 1st quarter valued at about $157,000. Cetera Investment Advisers raised its position in shares of Nuveen New York Municipal Valu by 26.2% during the 1st quarter. Cetera Investment Advisers now owns 18,585 shares of the investment management company's stock valued at $155,000 after buying an additional 3,858 shares in the last quarter. Leigh Baldwin & CO. LLC lifted its holdings in shares of Nuveen New York Municipal Valu by 2.6% in the 1st 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 last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. grew its position in Nuveen New York Municipal Valu by 5.0% in the fourth quarter. Marshall & Sterling Wealth Advisors Inc. now owns 61,730 shares of the investment management company's stock worth $529,000 after acquiring an additional 2,932 shares in the last quarter. 22.50% of the stock is owned by hedge funds and other institutional investors.

About Nuveen New York Municipal Valu

Nuveen New York Municipal Value Fund, Inc NYSE: NNY is a closed-end investment company that seeks to provide current income exempt from regular federal income tax and New York State and New York City income taxes. The fund is designed for investors seeking tax-advantaged exposure to the municipal bond market.

The fund invests primarily in municipal securities issued by or on behalf of New York State and its political subdivisions, municipalities, and public authorities. Its portfolio may include bonds financing public infrastructure and essential services, such as transportation, education, health care, utilities, and other civic projects.

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