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

by · The Cerbat Gem

Nuveen New York Municipal Valu (NYSE:NNY – Get Free Report) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 42,788 shares, an increase of 143.9% from the September 30th total of 17,540 shares. Based on an average daily volume of 86,901 shares, the short-interest ratio is currently 0.5 days. Currently, 0.2% of the shares of the stock are sold short.

Nuveen New York Municipal Valu Trading Up 1.0%

NYSE:NNY traded up $0.08 during trading hours on Friday, reaching $7.93. 147,915 shares of the company’s stock were exchanged, compared to its average volume of 88,073. The business’s 50-day simple moving average is $7.91 and its two-hundred day simple moving average is $8.38. Nuveen New York Municipal Valu has a 12 month low of $7.55 and a 12 month high of $8.94.

Nuveen New York Municipal Valu Dividend Announcement

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

Institutional Investors Weigh In On Nuveen New York Municipal Valu

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC purchased a new position in shares of Nuveen New York Municipal Valu during the 3rd quarter valued at $26,000. Susquehanna International Group LLP boosted its position in Nuveen New York Municipal Valu by 14.1% during the second quarter. Susquehanna International Group LLP now owns 15,601 shares of the investment management company’s stock valued at $136,000 after purchasing an additional 1,933 shares during the last quarter. Cetera Investment Advisers boosted its position in Nuveen New York Municipal Valu by 26.2% during the first quarter. Cetera Investment Advisers now owns 18,585 shares of the investment management company’s stock valued at $155,000 after purchasing an additional 3,858 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Nuveen New York Municipal Valu in the first quarter valued at about $157,000. Finally, Breakwater Capital Group grew its stake in Nuveen New York Municipal Valu by 6.6% in the third quarter. Breakwater Capital Group now owns 31,341 shares of the investment management company’s stock valued at $244,000 after purchasing an additional 1,935 shares in the last quarter. Hedge funds and other institutional investors own 22.50% of the company’s stock.

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.

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

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