Nuveen New York Municipal Valu (NYSE:NNY) Sees Large Decline in Short Interest

Nuveen New York Municipal Valu (NYSE:NNY) was the target of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 13,890 shares, a decrease of 51.5% from the July 15th total of 28,668 shares. Based on an average trading volume of 42,191 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new stake in Nuveen New York Municipal Valu during the 2nd quarter worth $128,000. Leigh Baldwin & CO. LLC grew its holdings in shares of 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 worth $1,000,000 after purchasing an additional 3,086 shares during the last quarter. Cetera Investment Advisers increased its position 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 in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Nuveen New York Municipal Valu in the 1st quarter valued at about $157,000. Finally, Corient Private Wealth LLC acquired a new stake in shares of Nuveen New York Municipal Valu in the 4th quarter valued at about $220,000. Institutional investors and hedge funds own 22.50% of the company’s stock.

Nuveen New York Municipal Valu Price Performance

NNY stock traded down $0.04 during trading on Friday, hitting $8.31. 33,391 shares of the company’s stock were exchanged, compared to its average volume of 43,205. The business has a 50-day moving average price of $8.55 and a two-hundred day moving average price of $8.54. Nuveen New York Municipal Valu has a 52-week low of $8.00 and a 52-week high of $8.94.

Nuveen New York Municipal Valu Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.0295 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 4.3%.

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.