Nuveen Credit Strategies Income Fund (NYSE:JQC) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

Nuveen Credit Strategies Income Fund (NYSE:JQC) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $5.78 and traded as high as $5.78. Nuveen Credit Strategies Income Fund shares last traded at $5.75, with a volume of 387,560 shares traded.

Nuveen Credit Strategies Income Fund Stock Performance

The stock’s 50 day moving average is $5.78 and its 200-day moving average is $5.72.

Nuveen Credit Strategies Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.054 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.65 annualized dividend and a yield of 11.27%.

Hedge Funds Weigh In On Nuveen Credit Strategies Income Fund

Several large investors have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV grew its holdings in Nuveen Credit Strategies Income Fund by 28.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 15,663 shares of the investment management company’s stock valued at $87,000 after purchasing an additional 3,502 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Nuveen Credit Strategies Income Fund by 10.0% during the second quarter. Commonwealth Equity Services LLC now owns 79,742 shares of the investment management company’s stock valued at $443,000 after buying an additional 7,265 shares during the last quarter. DCF Advisers LLC raised its holdings in shares of Nuveen Credit Strategies Income Fund by 1.7% in the second quarter. DCF Advisers LLC now owns 422,000 shares of the investment management company’s stock worth $2,342,000 after buying an additional 7,000 shares during the period. J.W. Cole Advisors Inc. bought a new stake in shares of Nuveen Credit Strategies Income Fund during the 2nd quarter worth approximately $67,000. Finally, Choreo LLC boosted its holdings in Nuveen Credit Strategies Income Fund by 20.8% during the 2nd quarter. Choreo LLC now owns 85,448 shares of the investment management company’s stock valued at $483,000 after acquiring an additional 14,703 shares during the period.

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.