Short Interest in Nuveen New York Municipal Value Fund (NYSE:NNY) Expands By 31.9%

Nuveen New York Municipal Value Fund (NYSE:NNY) was the recipient of a large increase in short interest in 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. Based on an average daily volume of 61,700 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.2% of the company’s shares are sold short.

Institutional Trading of Nuveen New York Municipal Value Fund

Several large investors have recently added to or reduced their stakes in the stock. Pacific Wealth Strategies Group Inc. purchased a new stake in shares of Nuveen New York Municipal Value Fund in the fourth quarter worth about $80,000. Nomura Holdings Inc. acquired a new position in Nuveen New York Municipal Value Fund during the 4th quarter worth approximately $196,000. Stifel Financial Corp boosted its holdings 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 worth $321,000 after acquiring an additional 1,559 shares during the period. Raymond James Financial Inc. acquired a new stake in Nuveen New York Municipal Value Fund in the fourth quarter valued at approximately $373,000. Finally, Wells Fargo & Company MN grew its position in Nuveen New York Municipal Value Fund by 2.8% in the fourth quarter. Wells Fargo & Company MN now owns 64,720 shares of the investment management company’s stock valued at $521,000 after acquiring an additional 1,783 shares in the last quarter. 22.57% of the stock is currently owned by institutional investors and hedge funds.

Nuveen New York Municipal Value Fund Trading Up 0.7 %

NYSE NNY traded up $0.06 during mid-day trading on Tuesday, hitting $8.32. The company’s stock had a trading volume of 34,955 shares, compared to its average volume of 50,029. Nuveen New York Municipal Value Fund has a 52-week low of $7.96 and a 52-week high of $8.70. The stock’s fifty day simple moving average is $8.25 and its two-hundred day simple moving average is $8.31.

Nuveen New York Municipal Value Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.0295 per share. The ex-dividend date is Friday, March 14th. This represents a $0.35 dividend on an annualized basis and a yield of 4.25%.

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.