Nuveen New York Municipal Valu (NYSE:NNY) Stock Crosses Below 50 Day Moving Average – Here’s What Happened

Nuveen New York Municipal Valu (NYSE:NNY – Get Free Report) shares crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty 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 changing hands.

Nuveen New York Municipal Valu Stock Performance

The company’s 50 day simple moving average is $7.88 and its 200 day simple moving average is $8.36.

Nuveen New York Municipal Valu Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a $0.0295 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, November 13th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Frisch Financial Group Inc. acquired a new position in shares of Nuveen New York Municipal Valu during the third quarter valued at approximately $106,000. Keybank National Association OH bought a new stake in Nuveen New York Municipal Valu during the third quarter worth approximately $240,000. Breakwater Capital Group raised its holdings in Nuveen New York Municipal Valu by 6.6% during the third quarter. Breakwater Capital Group now owns 31,341 shares of the investment management company’s stock worth $244,000 after purchasing an additional 1,935 shares in the last quarter. CoreCap Advisors LLC bought a new stake in Nuveen New York Municipal Valu during the third quarter worth approximately $26,000. Finally, Susquehanna International Group LLP lifted its position in 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 worth $136,000 after purchasing an additional 1,933 shares during the period. 22.50% of the stock is currently owned by institutional investors.

About Nuveen New York Municipal Valu

(Get Free Report)

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.

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