Nuveen Credit Strategies Income Fund (NYSE:JQC) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Nuveen Credit Strategies Income Fund (NYSE:JQC) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.32 and traded as low as $4.95. Nuveen Credit Strategies Income Fund shares last traded at $4.98, with a volume of 1,572,641 shares.

Nuveen Credit Strategies Income Fund Stock Down 1.1%

The business has a 50 day moving average price of $5.38 and a 200 day moving average price of $5.32.

Nuveen Credit Strategies Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be given a dividend of $0.054 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 13.0%.

Institutional Investors Weigh In On Nuveen Credit Strategies Income Fund

Several institutional investors have recently modified their holdings of JQC. Oak Hill Advisors LP boosted its position in shares of Nuveen Credit Strategies Income Fund by 100.0% during the first quarter. Oak Hill Advisors LP now owns 6,650,252 shares of the investment management company’s stock valued at $35,778,000 after buying an additional 3,325,126 shares during the last quarter. Absolute Investment Advisers LLC purchased a new stake in shares of Nuveen Credit Strategies Income Fund during the second quarter valued at $9,957,000. Tabor Asset Management LP purchased a new stake in shares of Nuveen Credit Strategies Income Fund during the first quarter valued at $5,003,000. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Nuveen Credit Strategies Income Fund during the second quarter valued at $3,646,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Nuveen Credit Strategies Income Fund during the first quarter valued at $3,493,000.

About Nuveen Credit Strategies Income Fund

Nuveen Credit Strategies Income Fund is a closed-ended balanced mutual fund launched by Nuveen Investments, Inc The fund is managed by Symphony Asset Management, LLC. It invests in the fixed income and public equity markets of the United States. The fund invests in senior secured and second lien loans, preferred securities, convertible securities and related instruments.