Nuveen New York Municipal Value Fund (NYSE:NNY) Sees Large Decline in Short Interest

Nuveen New York Municipal Value Fund (NYSE:NNY - Get Free Report) was the recipient of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 20,200 shares, a decline of 44.4% from the January 31st total of 36,300 shares. Based on an average daily trading volume, of 76,100 shares, the days-to-cover ratio is presently 0.3 days.

Nuveen New York Municipal Value Fund Price Performance

Shares of NYSE NNY traded up $0.05 during trading on Wednesday, hitting $8.36. The company had a trading volume of 30,423 shares, compared to its average volume of 49,972. The business's 50-day moving average is $8.18 and its 200 day moving average is $8.35. Nuveen New York Municipal Value Fund has a 52 week low of $7.96 and a 52 week high of $8.70.

Nuveen New York Municipal Value Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.0295 per share. This represents a $0.35 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Friday, March 14th.

Hedge Funds Weigh In On Nuveen New York Municipal Value Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacific Wealth Strategies Group Inc. purchased a new stake in Nuveen New York Municipal Value Fund during the fourth quarter valued at about $80,000. Nomura Holdings Inc. acquired a new stake in shares of Nuveen New York Municipal Value Fund during the fourth quarter valued at approximately $196,000. International Assets Investment Management LLC boosted its stake in Nuveen New York Municipal Value Fund by 761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 24,461 shares of the investment management company's stock worth $211,000 after purchasing an additional 21,620 shares during the period. Stifel Financial Corp grew its position in Nuveen New York Municipal Value Fund by 3.9% during the 4th quarter. Stifel Financial Corp now owns 38,712 shares of the investment management company's stock worth $311,000 after purchasing an additional 1,440 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Nuveen New York Municipal Value Fund during the 4th quarter worth approximately $373,000. Institutional investors and hedge funds own 22.57% of the company's stock.

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Nuveen New York Municipal Value Fund Company Profile

Nuveen New York Municipal Value Fund, Inc is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of New York. The fund invests in tax exempt municipal bonds, with a rating of Baa/BBB or higher.