Nuveen Credit Strategies Income Fund (NYSE:JQC) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Nuveen Credit Strategies Income Fund (NYSE:JQC)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-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 trading hands.

Nuveen Credit Strategies Income Fund Stock Performance

The business has a 50 day moving average price of $5.56 and a two-hundred day moving average price of $5.70.

Nuveen Credit Strategies Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.054 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 11.97%.

Hedge Funds Weigh In On Nuveen Credit Strategies Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in JQC. Raymond James Financial Inc. bought a new position in shares of Nuveen Credit Strategies Income Fund during the fourth quarter valued at approximately $9,448,000. Sovran Advisors LLC bought a new position in shares of Nuveen Credit Strategies Income Fund during the fourth quarter valued at approximately $3,027,000. Guggenheim Capital LLC raised its holdings 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 valued at $13,408,000 after acquiring an additional 463,304 shares in the last quarter. Penserra Capital Management LLC raised its holdings in shares of Nuveen Credit Strategies Income Fund by 16.7% during the third quarter. Penserra Capital Management LLC now owns 2,893,383 shares of the investment management company’s stock valued at $16,752,000 after acquiring an additional 413,403 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC bought a new position in shares of Nuveen Credit Strategies Income Fund during the fourth quarter valued at approximately $1,278,000.

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.