Nuveen New York Municipal Valu (NYSE:NNY) Stock Price Crosses Below 50-Day Moving Average – What’s Next?

Shares of Nuveen New York Municipal Valu (NYSE:NNY) passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $7.88 and traded as low as $7.80. Nuveen New York Municipal Valu shares last traded at $7.87, with a volume of 94,367 shares traded.

Nuveen New York Municipal Valu Stock Performance

The stock’s 50-day moving average price is $7.87 and its 200 day moving average price is $8.35.

Nuveen New York Municipal Valu Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be paid a $0.0295 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.35 annualized dividend and a yield of 4.6%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Leigh Baldwin & CO. LLC raised its position in Nuveen New York Municipal Valu by 2.6% during the 1st quarter. Leigh Baldwin & CO. LLC now owns 119,818 shares of the investment management company’s stock valued at $1,000,000 after purchasing an additional 3,086 shares in the last quarter. Breakwater Capital Group grew its position in shares of Nuveen New York Municipal Valu by 6.6% during the 3rd quarter. Breakwater Capital Group now owns 31,341 shares of the investment management company’s stock worth $244,000 after buying an additional 1,935 shares in the last quarter. Keybank National Association OH bought a new position in shares of Nuveen New York Municipal Valu during the 3rd quarter worth $240,000. Kestra Advisory Services LLC purchased a new position in shares of Nuveen New York Municipal Valu during the first quarter valued at $157,000. Finally, Cetera Investment Advisers raised its holdings in shares of Nuveen New York Municipal Valu by 26.2% in the first quarter. Cetera Investment Advisers now owns 18,585 shares of the investment management company’s stock valued at $155,000 after acquiring an additional 3,858 shares in the last quarter. 22.50% of the stock is currently owned by hedge funds and other institutional investors.

About Nuveen New York Municipal Valu

Nuveen New York Municipal Value Fund, Inc. (NYSE: NNY) is a closed-end management investment company designed to provide current income that is exempt from regular federal income tax and New York State and New York City personal income taxes, subject to applicable tax rules. The fund invests primarily in municipal securities issued by New York State, its political subdivisions and public authorities, as well as other qualifying municipal issuers. Its portfolio may include bonds financing public infrastructure and essential services such as transportation, education, health care, utilities and housing.