Nuveen New York Municipal Valu (NYSE:NNY) Shares Pass Above 200-Day Moving Average – Here’s Why

Nuveen New York Municipal Valu (NYSE:NNY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.41 and traded as high as $8.73. Nuveen New York Municipal Valu shares last traded at $8.65, with a volume of 10,075 shares traded.

Nuveen New York Municipal Valu Stock Down 0.8%

The firm has a 50 day moving average price of $8.57 and a 200-day moving average price of $8.41.

Nuveen New York Municipal Valu Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be given a $0.0295 dividend. The ex-dividend date is Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 4.1%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NNY. Fiera Capital Corp bought a new stake in shares of Nuveen New York Municipal Valu in the 4th quarter worth about $1,751,000. Hennion & Walsh Asset Management Inc. raised its position in Nuveen New York Municipal Valu by 62.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 412,635 shares of the investment management company’s stock worth $3,534,000 after purchasing an additional 158,370 shares during the period. Guggenheim Capital LLC raised its position in Nuveen New York Municipal Valu by 9.6% in the 2nd quarter. Guggenheim Capital LLC now owns 367,343 shares of the investment management company’s stock worth $2,979,000 after purchasing an additional 32,272 shares during the period. Raymond James Financial Inc. lifted its stake in Nuveen New York Municipal Valu by 71.2% in the third quarter. Raymond James Financial Inc. now owns 68,416 shares of the investment management company’s stock worth $565,000 after purchasing an additional 28,449 shares during the last quarter. Finally, Corient Private Wealth LLC purchased a new position in shares of Nuveen New York Municipal Valu during the fourth quarter valued at approximately $220,000. Institutional investors own 22.50% of the company’s stock.

About Nuveen New York Municipal Valu

Nuveen New York Municipal Value Fund, Inc (NYSE: NNY) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal and New York State income taxes. The fund primarily invests in investment-grade municipal securities issued by public issuers in the State of New York, including general obligation bonds and revenue bonds issued to finance essential public projects such as schools, transportation infrastructure and utility systems.

As a diversified municipal bond fund, NNY’s portfolio spans a broad range of maturities and credit qualities within the investment-grade universe.