Nuveen Municipal Value Fund (NYSE:NUV) Sees Large Volume Increase – Here’s Why

Nuveen Municipal Value Fund, Inc. (NYSE:NUV) shares saw an uptick in trading volume on Friday. 798,738 shares traded hands during mid-day trading, an increase of 22% from the previous session’s volume of 657,379 shares. The stock last traded at $8.2260 and had previously closed at $8.39.

Nuveen Municipal Value Fund Trading Down 1.6%

The firm’s fifty day moving average is $8.56 and its 200-day moving average is $8.92.

Nuveen Municipal Value Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be given a $0.0325 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.39 dividend on an annualized basis and a yield of 4.7%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE bought a new stake in shares of Nuveen Municipal Value Fund during the second quarter worth about $11,867,000. Hennion & Walsh Asset Management Inc. raised its holdings in Nuveen Municipal Value Fund by 17.3% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,862,303 shares of the closed-end fund’s stock valued at $26,390,000 after buying an additional 422,222 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Nuveen Municipal Value Fund in the 2nd quarter valued at approximately $2,058,000. Tandem Financial LLC bought a new position in Nuveen Municipal Value Fund in the 2nd quarter valued at approximately $1,412,000. Finally, Ehrlich Financial Group boosted its position in Nuveen Municipal Value Fund by 210.8% during the 2nd quarter. Ehrlich Financial Group now owns 356,385 shares of the closed-end fund’s stock worth $3,286,000 after buying an additional 241,716 shares during the period. 22.50% of the stock is currently owned by institutional investors and hedge funds.

Nuveen Municipal Value Fund Company Profile

Nuveen Municipal Value Fund, Inc is a closed-end fund listed on the New York Stock Exchange under the symbol NUV. The fund seeks to provide current income exempt from regular federal income tax by investing primarily in a portfolio of municipal securities issued by states, cities, counties, and other governmental entities in the United States.

Its portfolio may include a range of tax-exempt obligations, such as general obligation bonds, revenue bonds, and other municipal debt securities.