Nuveen New York Municipal Valu (NYSE:NNY) Stock Short Interest Jumps 143.9%

Nuveen New York Municipal Valu (NYSE:NNY) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 42,788 shares, a growth of 143.9% from the September 30th total of 17,540 shares. Based on an average trading volume of 86,901 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.2% of the shares of the company are sold short.

Hedge Funds Weigh In On Nuveen New York Municipal Valu

Hedge funds have recently made changes to their positions in the business. Leigh Baldwin & CO. LLC increased its stake in Nuveen New York Municipal Valu by 2.6% in the first quarter. Leigh Baldwin & CO. LLC now owns 119,818 shares of the investment management company’s stock valued at $1,000,000 after acquiring an additional 3,086 shares during the period. Breakwater Capital Group boosted its stake in Nuveen New York Municipal Valu by 6.6% in the 3rd quarter. Breakwater Capital Group now owns 31,341 shares of the investment management company’s stock valued at $244,000 after buying an additional 1,935 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Nuveen New York Municipal Valu in the 1st quarter worth about $157,000. Cetera Investment Advisers boosted its holdings in shares of Nuveen New York Municipal Valu by 26.2% in the 1st quarter. Cetera Investment Advisers now owns 18,585 shares of the investment management company’s stock worth $155,000 after acquiring an additional 3,858 shares in the last quarter. Finally, Susquehanna International Group LLP raised its holdings in shares of Nuveen New York Municipal Valu by 14.1% in the second quarter. Susquehanna International Group LLP now owns 15,601 shares of the investment management company’s stock valued at $136,000 after buying an additional 1,933 shares during the last quarter. Institutional investors and hedge funds own 22.50% of the company’s stock.

Nuveen New York Municipal Valu Price Performance

Shares of NYSE:NNY traded up $0.04 during trading on Friday, hitting $7.89. 126,975 shares of the stock were exchanged, compared to its average volume of 44,179. Nuveen New York Municipal Valu has a 1-year low of $7.55 and a 1-year high of $8.94. The company’s fifty day simple moving average is $7.92 and its 200-day simple moving average is $8.38.

Nuveen New York Municipal Valu Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be given a $0.0295 dividend. This represents a $0.35 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Thursday, October 15th.

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.

NNY is managed by Nuveen, an investment manager specializing in municipal bonds and other income-oriented strategies.