Nuveen New York Municipal Value Fund (NYSE:NNY) Sees Significant Growth in Short Interest

Nuveen New York Municipal Value Fund (NYSE:NNY) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 30,600 shares, an increase of 31.9% from the February 28th total of 23,200 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 61,700 shares, the short-interest ratio is presently 0.5 days.

Nuveen New York Municipal Value Fund Price Performance

Shares of NYSE:NNY traded down $0.07 during trading on Wednesday, reaching $8.25. 48,762 shares of the company’s stock traded hands, compared to its average volume of 50,027. Nuveen New York Municipal Value Fund has a fifty-two week low of $7.96 and a fifty-two week high of $8.70. The company has a 50-day simple moving average of $8.25 and a 200-day simple moving average of $8.31.

Nuveen New York Municipal Value Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.0295 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 4.29%.

Hedge Funds Weigh In On Nuveen New York Municipal Value Fund

A number of large investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp lifted its stake in Nuveen New York Municipal Value Fund by 4.4% in the 3rd quarter. Stifel Financial Corp now owns 37,272 shares of the investment management company’s stock valued at $321,000 after buying an additional 1,559 shares in the last quarter. Pacific Wealth Strategies Group Inc. purchased a new position in Nuveen New York Municipal Value Fund in the 4th quarter valued at $80,000. Wolverine Asset Management LLC grew its holdings in shares of Nuveen New York Municipal Value Fund by 68.3% during the fourth quarter. Wolverine Asset Management LLC now owns 167,757 shares of the investment management company’s stock worth $1,349,000 after buying an additional 68,101 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Nuveen New York Municipal Value Fund in the fourth quarter worth about $373,000. Finally, Tortoise Investment Management LLC grew its stake in Nuveen New York Municipal Value Fund by 13.2% during the 4th quarter. Tortoise Investment Management LLC now owns 1,015,670 shares of the investment management company’s stock valued at $8,169,000 after acquiring an additional 118,684 shares in the last quarter. 22.57% of the stock is currently owned by institutional investors and hedge funds.

About Nuveen New York Municipal Value Fund

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.