Nuveen New York Municipal Valu (NYSE:NNY) Stock Price Breaks Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• NNY shares fell below their 200-day moving average, trading as low as $7.75 versus the average of $8.35; the stock last traded at $7.7650.
• The fund announced a monthly dividend of $0.0295 per share, equivalent to approximately $0.35 annually and a 4.6% yield.
• Institutional investors own 22.5% of the fund, with several firms recently initiating or increasing positions. NNY primarily invests in New York municipal securities to provide tax-advantaged income.

Shares of Nuveen New York Municipal Valu (NYSE:NNY - Get Free Report) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $8.35 and traded as low as $7.75. Nuveen New York Municipal Valu shares last traded at $7.7650, with a volume of 51,458 shares changing hands.

Nuveen New York Municipal Valu Stock Performance

The business's 50-day moving average price is $7.99 and its 200-day moving average price is $8.35.

Nuveen New York Municipal Valu Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be given a dividend of $0.0295 per share. The ex-dividend date is Thursday, October 15th. This represents a $0.35 annualized dividend and a yield of 4.6%.

Institutional Trading of Nuveen New York Municipal Valu

Several hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC bought a new stake in Nuveen New York Municipal Valu during the 3rd quarter valued at approximately $26,000. Susquehanna International Group LLP grew its holdings 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 buying an additional 1,933 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Nuveen New York Municipal Valu by 26.2% during the first 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 during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Nuveen New York Municipal Valu during the first quarter valued at approximately $157,000. Finally, Breakwater Capital Group raised its position in shares of Nuveen New York Municipal Valu by 6.6% during the third quarter. Breakwater Capital Group now owns 31,341 shares of the investment management company's stock valued at $244,000 after buying an additional 1,935 shares during the last quarter. 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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