Nuveen Credit Strategies Income Fund (NYSE:JQC) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Nuveen Credit Strategies Income Fund (NYSE:JQC) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.62 and traded as low as $4.92. Nuveen Credit Strategies Income Fund shares last traded at $4.96, with a volume of 1,002,595 shares.

Nuveen Credit Strategies Income Fund Stock Down 4.7 %

The stock has a 50 day moving average of $5.41 and a 200-day moving average of $5.62.

Nuveen Credit Strategies Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a $0.054 dividend. This represents a $0.65 annualized dividend and a dividend yield of 13.08%. The ex-dividend date is Tuesday, April 15th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in Nuveen Credit Strategies Income Fund during the 4th quarter worth about $9,448,000. Sovran Advisors LLC bought a new position in shares of Nuveen Credit Strategies Income Fund in the fourth quarter valued at approximately $3,027,000. Guggenheim Capital LLC boosted its stake in Nuveen Credit Strategies Income Fund by 24.5% during the fourth quarter. Guggenheim Capital LLC now owns 2,356,452 shares of the investment management company’s stock valued at $13,408,000 after buying an additional 463,304 shares during the period. Prevail Innovative Wealth Advisors LLC purchased a new stake in Nuveen Credit Strategies Income Fund during the fourth quarter valued at about $1,278,000. Finally, Wells Fargo & Company MN lifted its stake in Nuveen Credit Strategies Income Fund by 10.1% in the fourth quarter. Wells Fargo & Company MN now owns 2,384,063 shares of the investment management company’s stock worth $13,565,000 after purchasing an additional 218,137 shares during the last quarter.

About Nuveen Credit Strategies Income Fund

Nuveen Credit Strategies Income Fund is a closed-ended balanced mutual fund launched by Nuveen Investments, Inc The fund is managed by Symphony Asset Management, LLC. It invests in the fixed income and public equity markets of the United States. The fund invests in senior secured and second lien loans, preferred securities, convertible securities and related instruments.