Nuveen New York Municipal Valu (NYSE:NNY) Stock Passes Below 200-Day Moving Average – Should You Sell?

Nuveen New York Municipal Valu (NYSE:NNY) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.46 and traded as low as $7.83. Nuveen New York Municipal Valu shares last traded at $7.91, with a volume of 65,714 shares.

Nuveen New York Municipal Valu Stock Performance

The firm has a 50-day moving average price of $8.24 and a 200-day moving average price of $8.46.

Nuveen New York Municipal Valu Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.0295 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 4.5%.

Institutional Investors Weigh In On Nuveen New York Municipal Valu

Hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP boosted its position in shares of Nuveen New York Municipal Valu by 14.1% during the 2nd quarter. Susquehanna International Group LLP now owns 15,601 shares of the investment management company’s stock valued at $136,000 after purchasing an additional 1,933 shares in the last quarter. Leigh Baldwin & CO. LLC lifted its stake in 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 valued at $1,000,000 after purchasing an additional 3,086 shares during the last quarter. Cetera Investment Advisers boosted its holdings in 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 worth $155,000 after buying an additional 3,858 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Nuveen New York Municipal Valu in the first quarter worth approximately $157,000. Finally, Fiera Capital Corp acquired a new position in Nuveen New York Municipal Valu in the fourth quarter worth approximately $1,751,000. 22.50% of the stock is currently owned by institutional investors.

About Nuveen New York Municipal Valu

Nuveen New York Municipal Value Fund, Inc (NYSE: NNY) is a closed-end investment company that seeks to provide current income exempt from regular federal income tax and New York State and New York City income taxes. The fund is designed for investors seeking tax-advantaged exposure to the municipal bond market.

The fund invests primarily in municipal securities issued by or on behalf of New York State and its political subdivisions, municipalities, and public authorities. Its portfolio may include bonds financing public infrastructure and essential services, such as transportation, education, health care, utilities, and other civic projects.