Nuveen New York Municipal Valu (NYSE:NNY) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Shares of Nuveen New York Municipal Valu (NYSE:NNY) crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $7.91 and traded as high as $7.96. Nuveen New York Municipal Valu shares last traded at $7.93, with a volume of 147,915 shares.

Nuveen New York Municipal Valu Price Performance

The firm’s fifty day simple moving average is $7.91 and its 200 day simple moving average is $8.38.

Nuveen New York Municipal Valu Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be paid a dividend of $0.0295 per share. This represents a $0.35 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Thursday, October 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Breakwater Capital Group increased its stake in shares of Nuveen New York Municipal Valu by 6.6% during the 3rd quarter. Breakwater Capital Group now owns 31,341 shares of the investment management company’s stock valued at $244,000 after acquiring an additional 1,935 shares during the last quarter. CoreCap Advisors LLC acquired a new stake in Nuveen New York Municipal Valu during the third quarter valued at approximately $26,000. Susquehanna International Group LLP raised its stake in Nuveen New York Municipal Valu by 14.1% during the second quarter. Susquehanna International Group LLP now owns 15,601 shares of the investment management company’s stock worth $136,000 after acquiring an additional 1,933 shares during the period. Leigh Baldwin & CO. LLC grew its position in shares of Nuveen New York Municipal Valu by 2.6% during the first quarter. Leigh Baldwin & CO. LLC now owns 119,818 shares of the investment management company’s stock worth $1,000,000 after acquiring an additional 3,086 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of Nuveen New York Municipal Valu by 26.2% during the first quarter. Cetera Investment Advisers now owns 18,585 shares of the investment management company’s stock valued at $155,000 after purchasing an additional 3,858 shares during the period. Institutional investors and hedge funds own 22.50% of the company’s stock.

Nuveen New York Municipal Valu Company Profile

Nuveen New York Municipal Value Fund, Inc (NYSE: NNY) is a closed-end management investment company designed to provide current income that is exempt from regular federal income tax and New York State and New York City personal income taxes, subject to applicable tax rules.

The fund invests primarily in municipal securities issued by New York State, its political subdivisions and public authorities, as well as other qualifying municipal issuers. Its portfolio may include bonds financing public infrastructure and essential services such as transportation, education, health care, utilities and housing.

NNY is managed by Nuveen, an investment manager specializing in municipal bonds and other income-oriented strategies.