Nuveen Mortgage and Income Fund (NYSE:JLS) Shares Pass Above Fifty Day Moving Average – Here’s Why

Nuveen Mortgage and Income Fund (NYSE:JLS)’s stock price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $18.30 and traded as high as $18.46. Nuveen Mortgage and Income Fund shares last traded at $18.33, with a volume of 13,318 shares changing hands.

Nuveen Mortgage and Income Fund Trading Up 1.0 %

The company has a fifty day moving average of $18.30 and a two-hundred day moving average of $18.01.

Nuveen Mortgage and Income Fund Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a $0.1535 dividend. This represents a $1.84 annualized dividend and a dividend yield of 10.05%. The ex-dividend date of this dividend is Friday, November 15th.

Hedge Funds Weigh In On Nuveen Mortgage and Income Fund

Large investors have recently made changes to their positions in the company. Private Client Services LLC purchased a new stake in Nuveen Mortgage and Income Fund in the 2nd quarter worth about $1,739,000. International Assets Investment Management LLC raised its holdings in shares of Nuveen Mortgage and Income Fund by 1,743.0% in the third quarter. International Assets Investment Management LLC now owns 54,553 shares of the company’s stock worth $1,005,000 after buying an additional 51,593 shares during the period. Fiera Capital Corp bought a new stake in shares of Nuveen Mortgage and Income Fund during the 3rd quarter worth approximately $506,000. Nations Financial Group Inc. IA ADV boosted its holdings in Nuveen Mortgage and Income Fund by 45.5% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 53,178 shares of the company’s stock valued at $980,000 after acquiring an additional 16,636 shares during the period. Finally, Atomi Financial Group Inc. bought a new position in Nuveen Mortgage and Income Fund in the 3rd quarter valued at $191,000.

About Nuveen Mortgage and Income Fund

Nuveen Mortgage and Income Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC, Nuveen Asset Management, LLC, and Wellington Management Company LLP. It invests in the fixed income markets of the United States. The fund invests in undervalued mortgage-backed securities consisting primarily of non-agency residential mortgage-backed securities and commercial mortgage-backed securities with a favorable total return potential.