Nuveen Mortgage and Income Fund (NYSE:JLS) Shares Cross Above 50-Day Moving Average – Should You Sell?

Nuveen Mortgage and Income Fund (NYSE:JLS)’s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty 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 0.5 %

The company’s 50-day moving average is $18.31 and its 200-day moving average is $18.01.

Nuveen Mortgage and Income Fund Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.1535 per share. The ex-dividend date is Friday, November 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 10.00%.

Institutional Investors Weigh In On Nuveen Mortgage and Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Clear Point Advisors Inc. acquired a new stake in Nuveen Mortgage and Income Fund in the first quarter worth about $35,000. International Assets Investment Management LLC acquired a new stake in shares of Nuveen Mortgage and Income Fund during the 2nd quarter worth approximately $53,000. Atomi Financial Group Inc. acquired a new stake in shares of Nuveen Mortgage and Income Fund during the 3rd quarter worth approximately $191,000. Fiera Capital Corp bought a new stake in shares of Nuveen Mortgage and Income Fund during the third quarter worth approximately $506,000. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in Nuveen Mortgage and Income Fund by 2.8% in the second quarter. Nations Financial Group Inc. IA ADV now owns 36,542 shares of the company’s stock valued at $658,000 after buying an additional 1,000 shares during the period.

Nuveen Mortgage and Income Fund Company Profile

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.