Nuveen New York Municipal Value Fund (NYSE:NNY) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Nuveen New York Municipal Value Fund (NYSE:NNY) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.32 and traded as high as $8.32. Nuveen New York Municipal Value Fund shares last traded at $8.25, with a volume of 18,766 shares trading hands.

Nuveen New York Municipal Value Fund Stock Performance

The stock’s 50 day moving average is $8.24 and its 200 day moving average is $8.32.

Nuveen New York Municipal Value Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.0295 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.35 annualized dividend and a dividend yield of 4.29%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NNY. Stifel Financial Corp increased its position in shares of Nuveen New York Municipal Value Fund by 4.4% during the third quarter. Stifel Financial Corp now owns 37,272 shares of the investment management company’s stock valued at $321,000 after buying an additional 1,559 shares during the period. Pacific Wealth Strategies Group Inc. bought a new stake in Nuveen New York Municipal Value Fund during the 4th quarter worth approximately $80,000. Wolverine Asset Management LLC lifted its stake in Nuveen New York Municipal Value Fund by 68.3% in the 4th quarter. Wolverine Asset Management LLC now owns 167,757 shares of the investment management company’s stock worth $1,349,000 after purchasing an additional 68,101 shares in the last quarter. Raymond James Financial Inc. bought a new position in Nuveen New York Municipal Value Fund in the 4th quarter valued at $373,000. Finally, Tortoise Investment Management LLC grew its position in shares of Nuveen New York Municipal Value Fund by 13.2% during the 4th quarter. Tortoise Investment Management LLC now owns 1,015,670 shares of the investment management company’s stock valued at $8,169,000 after purchasing an additional 118,684 shares in the last quarter. Institutional investors own 22.57% of the company’s stock.

About Nuveen New York Municipal Value Fund

Nuveen New York Municipal Value Fund, Inc is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of New York. The fund invests in tax exempt municipal bonds, with a rating of Baa/BBB or higher.