Nuveen New York Municipal Value Fund (NYSE:NNY) Short Interest Update

Nuveen New York Municipal Value Fund (NYSE:NNY) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totalling 5,400 shares, a drop of 55.0% from the September 15th total of 12,000 shares. Based on an average trading volume of 26,900 shares, the short-interest ratio is currently 0.2 days.

Several hedge funds have recently bought and sold shares of NNY. UBS Group AG grew its stake in shares of Nuveen New York Municipal Value Fund by 4.3% in the 1st quarter. UBS Group AG now owns 262,732 shares of the investment management company’s stock valued at $2,564,000 after buying an additional 10,851 shares during the period. Axiom Investment Management LLC acquired a new stake in shares of Nuveen New York Municipal Value Fund in the 1st quarter valued at about $177,000. Wolverine Asset Management LLC acquired a new stake in shares of Nuveen New York Municipal Value Fund in the 1st quarter valued at about $345,000. Morgan Stanley grew its stake in shares of Nuveen New York Municipal Value Fund by 6.5% in the 1st quarter. Morgan Stanley now owns 265,937 shares of the investment management company’s stock valued at $2,596,000 after buying an additional 16,314 shares during the period. Finally, 1607 Capital Partners LLC acquired a new stake in shares of Nuveen New York Municipal Value Fund in the 1st quarter valued at about $158,000. 13.29% of the stock is owned by hedge funds and other institutional investors.

Shares of NNY stock traded up $0.08 during mid-day trading on Thursday, hitting $9.82. The company’s stock had a trading volume of 17,499 shares, compared to its average volume of 26,212. The company’s fifty day simple moving average is $10.11 and its 200-day simple moving average is $9.97. Nuveen New York Municipal Value Fund has a 52 week low of $9.45 and a 52 week high of $10.85.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 15th will be given a $0.023 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, October 14th.

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.

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