Nuveen Credit Strategies Income Fund (NYSE:JQC) Sees Large Decrease in Short Interest

Nuveen Credit Strategies Income Fund (NYSE:JQC) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 366,081 shares, a drop of 64.3% from the September 30th total of 1,026,017 shares. Based on an average trading volume of 785,094 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On Nuveen Credit Strategies Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of JQC. Kestra Advisory Services LLC boosted its position in shares of Nuveen Credit Strategies Income Fund by 3.6% during the first quarter. Kestra Advisory Services LLC now owns 70,273 shares of the investment management company’s stock valued at $342,000 after purchasing an additional 2,452 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Nuveen Credit Strategies Income Fund by 8.1% in the third quarter. Park Avenue Securities LLC now owns 35,391 shares of the investment management company’s stock worth $168,000 after purchasing an additional 2,657 shares in the last quarter. International Assets Investment Management LLC lifted its position in Nuveen Credit Strategies Income Fund by 4.3% during the first quarter. International Assets Investment Management LLC now owns 78,144 shares of the investment management company’s stock valued at $377,000 after buying an additional 3,250 shares during the period. Capital Investment Advisors LLC lifted its position in Nuveen Credit Strategies Income Fund by 8.9% during the third quarter. Capital Investment Advisors LLC now owns 42,043 shares of the investment management company’s stock valued at $200,000 after buying an additional 3,430 shares during the period. Finally, Accredited Investor Services LLC boosted its holdings in shares of Nuveen Credit Strategies Income Fund by 39.6% during the 3rd quarter. Accredited Investor Services LLC now owns 23,603 shares of the investment management company’s stock valued at $112,000 after buying an additional 6,697 shares in the last quarter.

Nuveen Credit Strategies Income Fund Price Performance

NYSE:JQC remained flat at $4.59 during trading hours on Friday. 707,380 shares of the company traded hands, compared to its average volume of 730,310. The company’s 50 day simple moving average is $4.65 and its 200-day simple moving average is $4.81. Nuveen Credit Strategies Income Fund has a twelve month low of $4.45 and a twelve month high of $5.18.

Nuveen Credit Strategies Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be paid a dividend of $0.0495 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.59 dividend on an annualized basis and a dividend yield of 12.9%.

About Nuveen Credit Strategies Income Fund

Nuveen Credit Strategies Income Fund (NYSE:JQC) is a closed-end investment company managed by Nuveen. The fund seeks to provide a high level of current income and, as a secondary objective, capital appreciation through a professionally managed portfolio of credit-related investments.

Its portfolio may include senior secured loans, below-investment-grade corporate debt, high-yield bonds and other fixed-income securities. These investments generally involve issuers with elevated credit risk, and the fund uses credit research and portfolio diversification to pursue its objectives.

JQC invests primarily in the U.S.