Nuveen Core Equity Alpha Fund (NYSE:JCE) Shares Up 1.1% – Time to Buy?

Nuveen Core Equity Alpha Fund (NYSE:JCE)’s share price rose 1.1% during trading on Wednesday. The company traded as high as $17.05 and last traded at $16.95. Approximately 21,126 shares were traded during mid-day trading, a decline of 47% from the average session volume of 39,683 shares. The stock had previously closed at $16.77.

Nuveen Core Equity Alpha Fund Price Performance

The firm’s 50-day simple moving average is $16.93 and its two-hundred day simple moving average is $16.27.

Nuveen Core Equity Alpha Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 15th were issued a $0.3640 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 8.8%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of JCE. Baird Financial Group Inc. grew its stake in shares of Nuveen Core Equity Alpha Fund by 10.4% during the second quarter. Baird Financial Group Inc. now owns 531,973 shares of the company’s stock worth $8,703,000 after purchasing an additional 50,034 shares during the period. Bank of America Corp DE acquired a new position in shares of Nuveen Core Equity Alpha Fund in the second quarter valued at approximately $546,000. First Bank & Trust bought a new position in Nuveen Core Equity Alpha Fund during the 3rd quarter worth about $215,000. Fifth Third Bancorp acquired a new stake in Nuveen Core Equity Alpha Fund in the 1st quarter valued at approximately $59,000. Finally, International Assets Investment Management LLC boosted its holdings in Nuveen Core Equity Alpha Fund by 7.2% during the third quarter. International Assets Investment Management LLC now owns 55,967 shares of the company’s stock worth $943,000 after purchasing an additional 3,773 shares during the last quarter.

About Nuveen Core Equity Alpha Fund

Nuveen Core Equity Alpha Fund (NYSE: JCE) is a closed-end investment fund managed by Nuveen, an investment management firm and subsidiary of TIAA. The fund seeks long-term total return by investing primarily in a diversified portfolio of U.S. large-capitalization companies.

The fund uses a core equity approach that combines growth and value characteristics. Its portfolio may include companies across multiple industries, with investment decisions based on factors such as business fundamentals, earnings prospects, valuation and management quality.

Nuveen Core Equity Alpha Fund may also use exchange-traded options as part of its strategy, including writing call options on selected securities or market indexes.