Nuveen Credit Strategies Income Fund (NYSE:JQC) Shares Break Above 50 Day Moving Average – What’s Next?

Nuveen Credit Strategies Income Fund (NYSE:JQC) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $4.64 and traded as high as $4.69. Nuveen Credit Strategies Income Fund shares last traded at $4.6650, with a volume of 624,067 shares traded.

Nuveen Credit Strategies Income Fund Price Performance

The company’s 50-day simple moving average is $4.63 and its 200-day simple moving average is $4.79.

Nuveen Credit Strategies Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a $0.0495 dividend. This represents a $0.59 dividend on an annualized basis and a yield of 12.9%. The ex-dividend date of this dividend is Friday, November 13th.

Institutional Trading of Nuveen Credit Strategies Income Fund

Several large investors have recently modified their holdings of the business. Bessemer Group Inc. lifted its stake in shares of Nuveen Credit Strategies Income Fund by 1,447.0% in the third quarter. Bessemer Group Inc. now owns 7,178 shares of the investment management company’s stock worth $34,000 after acquiring an additional 6,714 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Nuveen Credit Strategies Income Fund during the 2nd quarter valued at approximately $54,000. Wealthspan Partners LLC acquired a new stake in Nuveen Credit Strategies Income Fund during the 2nd quarter valued at approximately $55,000. Equitable Holdings Inc. acquired a new stake in Nuveen Credit Strategies Income Fund during the 2nd quarter valued at approximately $63,000. Finally, Allen Mooney & Barnes Investment Advisors LLC purchased a new stake in Nuveen Credit Strategies Income Fund during the 2nd quarter worth approximately $71,000.

Nuveen Credit Strategies Income Fund Company Profile

Nuveen Credit Strategies Income Fund (NYSE:JQC) is a closed-end investment company managed by Nuveen. The fund seeks to provide a high level of current income and, as a secondary objective, capital appreciation through a professionally managed portfolio of credit-related investments. Its portfolio may include senior secured loans, below-investment-grade corporate debt, high-yield bonds and other fixed-income securities. These investments generally involve issuers with elevated credit risk, and the fund uses credit research and portfolio diversification to pursue its objectives.