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

Nuveen New York Municipal Value Fund (NYSE:NNY) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 10,400 shares, a drop of 61.5% from the October 15th total of 27,000 shares. Based on an average trading volume of 41,300 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On Nuveen New York Municipal Value Fund

Hedge funds have recently made changes to their positions in the business. Tortoise Investment Management LLC raised its stake in Nuveen New York Municipal Value Fund by 7.1% in the second quarter. Tortoise Investment Management LLC now owns 909,458 shares of the investment management company’s stock worth $7,539,000 after buying an additional 59,926 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Nuveen New York Municipal Value Fund by 2.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 304,922 shares of the investment management company’s stock valued at $2,528,000 after purchasing an additional 8,425 shares in the last quarter. Wolverine Asset Management LLC raised its stake in Nuveen New York Municipal Value Fund by 58.4% during the second quarter. Wolverine Asset Management LLC now owns 114,877 shares of the investment management company’s stock valued at $952,000 after buying an additional 42,363 shares during the last quarter. Herold Advisors Inc. grew its stake in shares of Nuveen New York Municipal Value Fund by 10.8% in the second quarter. Herold Advisors Inc. now owns 31,668 shares of the investment management company’s stock worth $263,000 after acquiring an additional 3,095 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Nuveen New York Municipal Value Fund by 761.0% during the third quarter. International Assets Investment Management LLC now owns 24,461 shares of the investment management company’s stock valued at $211,000 after buying an additional 21,620 shares during the last quarter. 22.57% of the stock is owned by hedge funds and other institutional investors.

Nuveen New York Municipal Value Fund Price Performance

Shares of NYSE NNY traded down $0.07 during trading on Wednesday, hitting $8.31. 79,533 shares of the company traded hands, compared to its average volume of 42,345. The business’s fifty day moving average is $8.50 and its 200 day moving average is $8.39. Nuveen New York Municipal Value Fund has a fifty-two week low of $7.85 and a fifty-two week high of $8.70.

Nuveen New York Municipal Value Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.0295 dividend. This represents a $0.35 annualized dividend and a yield of 4.26%. The ex-dividend date is Friday, November 15th.

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.