Nuveen New York Municipal Value Fund (NYSE:NNY) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Nuveen New York Municipal Value Fund (NYSE:NNY) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.35 and traded as high as $8.57. Nuveen New York Municipal Value Fund shares last traded at $8.52, with a volume of 69,418 shares changing hands.

Nuveen New York Municipal Value Fund Price Performance

The stock’s fifty day moving average is $8.53 and its 200-day moving average is $8.35.

Nuveen New York Municipal Value Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be paid a $0.0295 dividend. This represents a $0.35 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Tuesday, October 15th.

Institutional Trading of Nuveen New York Municipal Value Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Drucker Wealth 3.0 LLC acquired a new stake in Nuveen New York Municipal Value Fund during the 2nd quarter worth $104,000. Wolverine Asset Management LLC raised its stake in Nuveen New York Municipal Value Fund by 58.4% during the 2nd quarter. Wolverine Asset Management LLC now owns 114,877 shares of the investment management company’s stock valued at $952,000 after acquiring an additional 42,363 shares during the last quarter. Tortoise Investment Management LLC grew its stake in shares of Nuveen New York Municipal Value Fund by 7.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 909,458 shares of the investment management company’s stock valued at $7,539,000 after purchasing an additional 59,926 shares during the last quarter. Herold Advisors Inc. raised its stake in shares of Nuveen New York Municipal Value Fund by 10.8% during the second quarter. Herold Advisors Inc. now owns 31,668 shares of the investment management company’s stock worth $263,000 after purchasing an additional 3,095 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in Nuveen New York Municipal Value Fund by 2.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 304,922 shares of the investment management company’s stock valued at $2,528,000 after buying an additional 8,425 shares during the period. Hedge funds and other institutional investors own 22.57% of the company’s stock.

Nuveen New York Municipal Value Fund Company Profile

Nuveen New York Municipal Value Fund, Inc is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of New York. The fund invests in tax exempt municipal bonds, with a rating of Baa/BBB or higher.