Nuveen Credit Strategies Income Fund (NYSE:JQC) Shares Cross Below 200-Day Moving Average – Here’s Why

Nuveen Credit Strategies Income Fund (NYSE:JQC) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.72 and traded as low as $5.51. Nuveen Credit Strategies Income Fund shares last traded at $5.52, with a volume of 560,739 shares trading hands.

Nuveen Credit Strategies Income Fund Stock Performance

The firm’s fifty day moving average is $5.63 and its 200 day moving average is $5.72.

Nuveen Credit Strategies Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.054 dividend. This represents a $0.65 dividend on an annualized basis and a yield of 11.71%. The ex-dividend date is Friday, February 14th.

Institutional Investors Weigh In On Nuveen Credit Strategies Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in JQC. US Bancorp DE raised its stake in Nuveen Credit Strategies Income Fund by 42.9% in the fourth quarter. US Bancorp DE now owns 5,992 shares of the investment management company’s stock valued at $34,000 after purchasing an additional 1,800 shares in the last quarter. Apollon Wealth Management LLC bought a new position in shares of Nuveen Credit Strategies Income Fund in the 4th quarter valued at $63,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Nuveen Credit Strategies Income Fund during the 4th quarter worth $72,000. DKM Wealth Management Inc. bought a new stake in shares of Nuveen Credit Strategies Income Fund during the 4th quarter worth $85,000. Finally, Total Wealth Planning & Management Inc. acquired a new stake in Nuveen Credit Strategies Income Fund in the fourth quarter valued at about $88,000.

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.