Nuveen Credit Strategies Income Fund (NYSE:JQC) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Nuveen Credit Strategies Income Fund (NYSE:JQC) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.34 and traded as low as $5.08. Nuveen Credit Strategies Income Fund shares last traded at $5.1050, with a volume of 966,475 shares changing hands.

Nuveen Credit Strategies Income Fund Stock Performance

The business has a 50-day simple moving average of $5.23 and a two-hundred day simple moving average of $5.34.

Nuveen Credit Strategies Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be given a dividend of $0.054 per share. The ex-dividend date is Friday, November 14th. This represents a c) dividend on an annualized basis and a yield of 12.7%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Oak Hill Advisors LP boosted its holdings in Nuveen Credit Strategies Income Fund by 100.0% in the 1st quarter. Oak Hill Advisors LP now owns 6,650,252 shares of the investment management company’s stock valued at $35,778,000 after purchasing an additional 3,325,126 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in shares of Nuveen Credit Strategies Income Fund by 276.6% in the 3rd quarter. Penserra Capital Management LLC now owns 3,571,101 shares of the investment management company’s stock valued at $18,819,000 after buying an additional 2,622,750 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Nuveen Credit Strategies Income Fund by 12.9% in the second quarter. Guggenheim Capital LLC now owns 2,815,113 shares of the investment management company’s stock valued at $15,173,000 after buying an additional 321,044 shares in the last quarter. Absolute Investment Advisers LLC acquired a new position in Nuveen Credit Strategies Income Fund during the second quarter worth $9,957,000. Finally, Advisors Asset Management Inc. raised its position in Nuveen Credit Strategies Income Fund by 3.2% in the third quarter. Advisors Asset Management Inc. now owns 1,330,900 shares of the investment management company’s stock worth $7,014,000 after acquiring an additional 41,453 shares in 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.