Nuveen New York Municipal Valu (NYSE:NNY) Shares Shorted: Short Interest Up 249.5% in September

Nuveen New York Municipal Valu (NYSE:NNY) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 17,540 shares, an increase of 249.5% from the September 15th total of 5,018 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 69,201 shares, the days-to-cover ratio is currently 0.3 days.

Nuveen New York Municipal Valu Trading Down 0.7%

NYSE NNY traded down $0.06 on Tuesday, hitting $7.99. 9,793 shares of the stock traded hands, compared to its average volume of 39,874. The stock has a 50-day moving average of $8.04 and a 200 day moving average of $8.37. Nuveen New York Municipal Valu has a twelve month low of $7.55 and a twelve month high of $8.94.

Nuveen New York Municipal Valu Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be given a dividend of $0.0295 per share. This represents a $0.35 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, October 15th.

Hedge Funds Weigh In On Nuveen New York Municipal Valu

Several large investors have recently added to or reduced their stakes in the company. Leigh Baldwin & CO. LLC increased its stake in Nuveen New York Municipal Valu by 2.6% during the first quarter. Leigh Baldwin & CO. LLC now owns 119,818 shares of the investment management company’s stock valued at $1,000,000 after purchasing an additional 3,086 shares during the last quarter. Breakwater Capital Group raised its holdings in shares of Nuveen New York Municipal Valu by 6.6% during the third quarter. Breakwater Capital Group now owns 31,341 shares of the investment management company’s stock worth $244,000 after purchasing an additional 1,935 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Nuveen New York Municipal Valu during the first quarter worth $157,000. Cetera Investment Advisers raised its holdings in shares of Nuveen New York Municipal Valu by 26.2% during the first quarter. Cetera Investment Advisers now owns 18,585 shares of the investment management company’s stock worth $155,000 after purchasing an additional 3,858 shares during the period. Finally, Susquehanna International Group LLP lifted its position in shares of 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 worth $136,000 after buying an additional 1,933 shares during the last quarter. 22.50% of the stock is currently owned by institutional investors.

Nuveen New York Municipal Valu Company Profile

Nuveen New York Municipal Value Fund (NYSE: NNY) is a closed-end 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 is intended for investors seeking tax-advantaged income and may also pursue capital appreciation as a secondary objective.

The fund invests primarily in municipal securities issued by New York State, its municipalities and public authorities, as well as other qualifying issuers.