Nuveen Mortgage and Income Fund (NYSE:JLS) Shares Cross Below Fifty Day Moving Average – Here’s Why

Nuveen Mortgage and Income Fund (NYSE:JLS) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $17.27 and traded as low as $16.84. Nuveen Mortgage and Income Fund shares last traded at $16.87, with a volume of 16,978 shares traded.

Nuveen Mortgage and Income Fund Price Performance

The business’s 50-day moving average is $17.26 and its two-hundred day moving average is $17.86.

Nuveen Mortgage and Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $0.1535 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 10.9%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers grew its stake in shares of Nuveen Mortgage and Income Fund by 128.6% in the first quarter. Cetera Investment Advisers now owns 40,038 shares of the company’s stock valued at $726,000 after buying an additional 22,527 shares in the last quarter. Stifel Financial Corp acquired a new stake in Nuveen Mortgage and Income Fund in the fourth quarter valued at $218,000. LPL Financial LLC lifted its stake in Nuveen Mortgage and Income Fund by 13.4% in the fourth quarter. LPL Financial LLC now owns 11,564 shares of the company’s stock valued at $210,000 after acquiring an additional 1,365 shares during the last quarter. First Trust Advisors LP grew its position in shares of Nuveen Mortgage and Income Fund by 12.5% in the 3rd quarter. First Trust Advisors LP now owns 30,081 shares of the company’s stock valued at $563,000 after acquiring an additional 3,340 shares during the period. Finally, Concorde Asset Management LLC raised its stake in Nuveen Mortgage and Income Fund by 18.5% in the first quarter. Concorde Asset Management LLC now owns 27,080 shares of the company’s stock valued at $495,000 after buying an additional 4,230 shares during the period.

About Nuveen Mortgage and Income Fund

Nuveen Mortgage and Income Fund (NYSE: JLS) is a closed-end management investment company that primarily invests in U.S. residential mortgage-backed securities. The fund seeks to generate current income with the potential for capital appreciation by allocating assets across a diversified portfolio of agency and non-agency residential mortgage-backed securities, adjustable-rate mortgage securities and mortgage servicing rights. To enhance returns, the fund may employ leverage through repurchase agreements, preferred shares or other financing arrangements.

Since its inception in July 2006, Nuveen Mortgage and Income Fund has focused on navigating various interest-rate and credit-cycle environments through active duration management and credit analysis.