Nuveen New York Municipal Valu (NYSE:NNY) Stock Crosses Below 50 Day Moving Average – Here’s What Happened

Nuveen New York Municipal Valu (NYSE:NNY)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $7.88 and traded as low as $7.80. Nuveen New York Municipal Valu shares last traded at $7.87, with a volume of 94,367 shares changing hands.

Nuveen New York Municipal Valu Stock Performance

The business’s 50 day simple moving average is $7.88 and its 200-day simple moving average is $8.36.

Nuveen New York Municipal Valu Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a dividend of $0.0295 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, November 13th.

Hedge Funds Weigh In On Nuveen New York Municipal Valu

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Advisory Services LLC bought a new position in Nuveen New York Municipal Valu in the 1st quarter worth approximately $157,000. Susquehanna International Group LLP increased its position in Nuveen New York Municipal Valu by 14.1% in the 2nd quarter. Susquehanna International Group LLP now owns 15,601 shares of the investment management company’s stock valued at $136,000 after acquiring an additional 1,933 shares during the period. CoreCap Advisors LLC acquired a new stake in Nuveen New York Municipal Valu in the 3rd quarter valued at approximately $26,000. Keybank National Association OH bought a new stake in Nuveen New York Municipal Valu during the 3rd quarter valued at $240,000. Finally, Frisch Financial Group Inc. bought a new stake in Nuveen New York Municipal Valu during the 3rd quarter valued at $106,000. 22.50% of the stock is currently owned by institutional investors and hedge funds.

Nuveen New York Municipal Valu Company Profile

Nuveen New York Municipal Value Fund, Inc. (NYSE: NNY) is a closed-end management 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 invests primarily in municipal securities issued by New York State, its political subdivisions and public authorities, as well as other qualifying municipal issuers. Its portfolio may include bonds financing public infrastructure and essential services such as transportation, education, health care, utilities and housing.