Nuveen Core Equity Alpha Fund (NYSE:JCE) Stock Jumps 1.1% – Still a Buy?

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

Nuveen Core Equity Alpha Fund Price Performance

The stock has a 50-day simple moving average of $16.94 and a 200 day simple moving average of $16.27.

Nuveen Core Equity Alpha Fund Dividend Announcement

The company 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 was Tuesday, September 15th. This represents a $1.46 annualized dividend and a yield of 8.6%.

Institutional Trading of Nuveen Core Equity Alpha Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of 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 buying an additional 3,773 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Nuveen Core Equity Alpha Fund by 4.1% in the third quarter. Commonwealth Equity Services LLC now owns 30,680 shares of the company’s stock valued at $520,000 after buying an additional 1,199 shares during the period. First Bank & Trust bought a new position in Nuveen Core Equity Alpha Fund in the third quarter valued at approximately $215,000. Eastern Bank boosted its stake in Nuveen Core Equity Alpha Fund by 142.8% in the third quarter. Eastern Bank now owns 4,537 shares of the company’s stock valued at $77,000 after acquiring an additional 2,668 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its stake in Nuveen Core Equity Alpha Fund by 10.4% in the second quarter. Baird Financial Group Inc. now owns 531,973 shares of the company’s stock valued at $8,703,000 after acquiring an additional 50,034 shares during the last quarter.

Nuveen Core Equity Alpha Fund Company Profile

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.