Nuveen New York Municipal Valu (NYSE:NNY) Share Price Passes Above 50-Day Moving Average – Time to Sell?

Nuveen New York Municipal Valu (NYSE:NNY)’s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $8.58 and traded as high as $8.61. Nuveen New York Municipal Valu shares last traded at $8.60, with a volume of 19,355 shares traded.

Nuveen New York Municipal Valu Price Performance

The stock has a 50 day moving average price of $8.58 and a 200 day moving average price of $8.45.

Nuveen New York Municipal Valu Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a dividend of $0.0295 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) annualized dividend and a yield of 4.1%.

Institutional Trading of Nuveen New York Municipal Valu

A number of hedge funds have recently modified their holdings of the business. Breakwater Capital Group increased its stake in shares of Nuveen New York Municipal Valu by 6.4% in the 4th quarter. Breakwater Capital Group now owns 33,282 shares of the investment management company’s stock worth $285,000 after acquiring an additional 2,008 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. boosted its stake in Nuveen New York Municipal Valu by 5.0% during the third quarter. Marshall & Sterling Wealth Advisors Inc. now owns 58,798 shares of the investment management company’s stock worth $486,000 after acquiring an additional 2,792 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in Nuveen New York Municipal Valu during the fourth quarter worth about $25,000. Elyxium Wealth LLC purchased a new stake in Nuveen New York Municipal Valu in the fourth quarter worth about $26,000. Finally, Wells Fargo & Company MN grew its holdings in Nuveen New York Municipal Valu by 7.6% in the fourth quarter. Wells Fargo & Company MN now owns 75,138 shares of the investment management company’s stock worth $643,000 after purchasing an additional 5,325 shares during the period. Institutional investors own 22.50% of the company’s stock.

About Nuveen New York Municipal Valu

Nuveen New York Municipal Value Fund, Inc (NYSE: NNY) is a closed-end management investment company that seeks to provide shareholders with a high level of current income exempt from federal and New York State income taxes. The fund primarily invests in investment-grade municipal securities issued by public issuers in the State of New York, including general obligation bonds and revenue bonds issued to finance essential public projects such as schools, transportation infrastructure and utility systems.

As a diversified municipal bond fund, NNY’s portfolio spans a broad range of maturities and credit qualities within the investment-grade universe.