Nuveen New York Municipal Valu (NYSE:NNY) Stock Breaks Below 200-Day Moving Average - Here's Why

Key Points

• NNY shares fell below their 200-day moving average of $8.37, reaching as low as $7.87 before last trading at $8.0050. Trading volume was approximately 67,810 shares.
• The fund declared a monthly dividend of $0.0295 per share, equivalent to about $0.35 annually and a 4.4% dividend yield; the payment is scheduled for November 2 for shareholders of record on October 15.
• Institutional investors made several recent purchases, and hedge funds and other institutions collectively own 22.5% of NNY. The fund invests primarily in New York municipal securities to provide tax-advantaged income.

Shares of Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $8.37 and traded as low as $7.87. Nuveen New York Municipal Valu shares last traded at $8.0050, with a volume of 67,810 shares trading hands.

Nuveen New York Municipal Valu Trading Up 1.3%

The stock's fifty day moving average price is $8.04 and its 200-day moving average price is $8.37.

Nuveen New York Municipal Valu Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be paid a $0.0295 dividend. This represents a $0.35 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, October 15th.

Institutional Trading of Nuveen New York Municipal Valu

Several large investors have recently bought and sold shares of the business. Breakwater Capital Group lifted its stake in Nuveen New York Municipal Valu by 6.6% in the 3rd quarter. Breakwater Capital Group now owns 31,341 shares of the investment management company's stock worth $244,000 after purchasing an additional 1,935 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in shares of Nuveen New York Municipal Valu in the third quarter valued at approximately $26,000. Susquehanna International Group LLP grew its position in shares of Nuveen New York Municipal Valu by 14.1% in the second 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. Leigh Baldwin & CO. LLC increased its holdings in shares of Nuveen New York Municipal Valu by 2.6% in the first quarter. Leigh Baldwin & CO. LLC now owns 119,818 shares of the investment management company's stock valued at $1,000,000 after purchasing an additional 3,086 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Nuveen New York Municipal Valu by 26.2% in the first quarter. Cetera Investment Advisers now owns 18,585 shares of the investment management company's stock valued at $155,000 after purchasing an additional 3,858 shares during the last quarter. Hedge funds and other institutional investors own 22.50% of the company's stock.

Nuveen New York Municipal Valu Company Profile

Nuveen New York Municipal Value Fund NYSE: NNY is a closed-end 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 is intended for investors seeking tax-advantaged income and may also pursue capital appreciation as a secondary objective.

The fund invests primarily in municipal securities issued by New York State, its municipalities and public authorities, as well as other qualifying issuers.

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