Nuveen Credit Strategies Income Fund (NYSE:JQC) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Shares of Nuveen Credit Strategies Income Fund (NYSE:JQC) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.70 and traded as low as $5.41. Nuveen Credit Strategies Income Fund shares last traded at $5.42, with a volume of 630,144 shares traded.

Nuveen Credit Strategies Income Fund Price Performance

The firm’s 50 day moving average price is $5.56 and its two-hundred day moving average price is $5.70.

Nuveen Credit Strategies Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.054 dividend. This represents a $0.65 annualized dividend and a yield of 12.12%. The ex-dividend date of this dividend is Friday, March 14th.

Hedge Funds Weigh In On Nuveen Credit Strategies Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC increased its position in Nuveen Credit Strategies Income Fund by 16.7% in the 3rd quarter. Penserra Capital Management LLC now owns 2,893,383 shares of the investment management company’s stock valued at $16,752,000 after buying an additional 413,403 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Nuveen Credit Strategies Income Fund by 10.1% during the fourth quarter. Wells Fargo & Company MN now owns 2,384,063 shares of the investment management company’s stock valued at $13,565,000 after acquiring an additional 218,137 shares in the last quarter. Guggenheim Capital LLC raised its position in shares of Nuveen Credit Strategies Income Fund by 24.5% during the fourth quarter. Guggenheim Capital LLC now owns 2,356,452 shares of the investment management company’s stock worth $13,408,000 after purchasing an additional 463,304 shares during the period. Invesco Ltd. grew its position in Nuveen Credit Strategies Income Fund by 10.1% in the 4th quarter. Invesco Ltd. now owns 1,827,767 shares of the investment management company’s stock valued at $10,400,000 after purchasing an additional 168,018 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Nuveen Credit Strategies Income Fund during the 4th quarter valued at $9,448,000.

Nuveen Credit Strategies Income Fund Company Profile

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.