Nuveen New York Municipal Valu (NYSE:NNY) Stock Breaks Above Fifty Day Moving Average - Here's Why

Key Points

• NNY shares rose above their 50-day moving average, reaching $7.96 before last trading at $7.93. The 50-day average was $7.91, compared with a 200-day average of $8.38.
• The fund declared a monthly dividend of $0.0295 per share, equivalent to approximately $0.35 annually and a 4.5% yield. The dividend is payable November 2 to shareholders of record on October 15.
• Institutional investors own 22.5% of NNY, with several firms recently increasing their stakes or initiating new positions.

Shares of Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $7.91 and traded as high as $7.96. Nuveen New York Municipal Valu shares last traded at $7.93, with a volume of 147,915 shares traded.

Nuveen New York Municipal Valu Stock Performance

The firm has a 50 day moving average price of $7.91 and a 200 day moving average price of $8.38.

Nuveen New York Municipal Valu Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be given a dividend of $0.0295 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.35 dividend on an annualized basis and a yield of 4.5%.

Hedge Funds Weigh In On Nuveen New York Municipal Valu

A number of large investors have recently bought and sold shares of the business. CoreCap Advisors LLC purchased a new position in Nuveen New York Municipal Valu in the third quarter valued at about $26,000. Susquehanna International Group LLP increased its stake in Nuveen New York Municipal Valu by 14.1% during the 2nd quarter. Susquehanna International Group LLP now owns 15,601 shares of the investment management company's stock valued at $136,000 after purchasing an additional 1,933 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Nuveen New York Municipal Valu by 26.2% in the 1st quarter. Cetera Investment Advisers now owns 18,585 shares of the investment management company's stock valued at $155,000 after acquiring an additional 3,858 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Nuveen New York Municipal Valu during the first quarter worth about $157,000. Finally, Breakwater Capital Group lifted its stake in Nuveen New York Municipal Valu by 6.6% during the 3rd quarter. Breakwater Capital Group now owns 31,341 shares of the investment management company's stock valued at $244,000 after acquiring an additional 1,935 shares during the period. Institutional investors own 22.50% of the company's stock.

Nuveen New York Municipal Valu Company Profile

Nuveen New York Municipal Value Fund, Inc NYSE: NNY is a closed-end management 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 invests primarily in municipal securities issued by New York State, its political subdivisions and public authorities, as well as other qualifying municipal issuers. Its portfolio may include bonds financing public infrastructure and essential services such as transportation, education, health care, utilities and housing.

NNY is managed by Nuveen, an investment manager specializing in municipal bonds and other income-oriented strategies.

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