Nuveen New York Municipal Value Fund (NYSE:NNY) Short Interest Up 31.9% in March

Nuveen New York Municipal Value Fund (NYSE:NNY) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 30,600 shares, a growth of 31.9% from the February 28th total of 23,200 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 61,700 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Nuveen New York Municipal Value Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in NNY. Tortoise Investment Management LLC lifted its stake in shares of Nuveen New York Municipal Value Fund by 13.2% in the fourth quarter. Tortoise Investment Management LLC now owns 1,015,670 shares of the investment management company’s stock worth $8,169,000 after buying an additional 118,684 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new stake in Nuveen New York Municipal Value Fund in the 4th quarter valued at about $848,000. Logan Stone Capital LLC purchased a new position in Nuveen New York Municipal Value Fund in the 4th quarter worth approximately $765,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Nuveen New York Municipal Value Fund in the fourth quarter valued at approximately $591,000. Finally, Wolverine Asset Management LLC increased its holdings in shares of Nuveen New York Municipal Value Fund by 68.3% in the fourth quarter. Wolverine Asset Management LLC now owns 167,757 shares of the investment management company’s stock valued at $1,349,000 after purchasing an additional 68,101 shares during the last quarter. Institutional investors and hedge funds own 22.57% of the company’s stock.

Nuveen New York Municipal Value Fund Stock Performance

Shares of NYSE NNY traded up $0.03 during midday trading on Monday, hitting $8.28. The stock had a trading volume of 48,687 shares, compared to its average volume of 50,039. The stock has a 50 day simple moving average of $8.25 and a 200-day simple moving average of $8.31. Nuveen New York Municipal Value Fund has a 1 year low of $7.96 and a 1 year high of $8.70.

Nuveen New York Municipal Value Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.0295 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 4.28%.

About Nuveen New York Municipal Value Fund

Nuveen New York Municipal Value Fund, Inc is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of New York. The fund invests in tax exempt municipal bonds, with a rating of Baa/BBB or higher.