Nuveen New York Municipal Valu (NYSE:NNY) Share Price Breaks Below Two Hundred Day Moving Average – What’s Next?

Nuveen New York Municipal Valu (NYSE:NNY)’s stock price passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $8.35 and traded as low as $7.75. Nuveen New York Municipal Valu shares last traded at $7.7650, with a volume of 51,458 shares trading hands.

Nuveen New York Municipal Valu Price Performance

The firm’s fifty day moving average is $7.98 and its two-hundred day moving average is $8.35.

Nuveen New York Municipal Valu Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be paid a dividend of $0.0295 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.35 annualized dividend and a yield of 4.5%.

Hedge Funds Weigh In On Nuveen New York Municipal Valu

Hedge funds have recently made changes to their positions in the business. CoreCap Advisors LLC purchased a new position in Nuveen New York Municipal Valu in the 3rd quarter worth about $26,000. Susquehanna International Group LLP lifted its holdings in shares of Nuveen New York Municipal Valu by 14.1% in the second quarter. Susquehanna International Group LLP now owns 15,601 shares of the investment management company’s stock valued at $136,000 after purchasing an additional 1,933 shares in the last quarter. Cetera Investment Advisers raised its position in 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 valued at $155,000 after buying an additional 3,858 shares during the period. Kestra Advisory Services LLC purchased a new position in Nuveen New York Municipal Valu during the 1st quarter valued at about $157,000. Finally, Breakwater Capital Group grew its stake in Nuveen New York Municipal Valu by 6.6% during the 3rd quarter. Breakwater Capital Group now owns 31,341 shares of the investment management company’s stock valued at $244,000 after acquiring an additional 1,935 shares in the last quarter. Institutional investors and hedge funds own 22.50% of the company’s stock.

About Nuveen New York Municipal Valu

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.