Nuveen Municipal Value Fund (NYSE:NUV) Shares Break Below 200-Day Moving Average – What’s Next?

Nuveen Municipal Value Fund, Inc. (NYSE:NUV) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $8.97 and traded as low as $8.25. Nuveen Municipal Value Fund shares last traded at $8.3450, with a volume of 1,090,473 shares.

Nuveen Municipal Value Fund Stock Performance

The firm has a 50 day moving average of $8.70 and a two-hundred day moving average of $8.97.

Nuveen Municipal Value Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.0325 per share. The ex-dividend date is Thursday, October 15th. This represents a $0.39 dividend on an annualized basis and a dividend yield of 4.7%.

Institutional Investors Weigh In On Nuveen Municipal Value Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. raised its stake in Nuveen Municipal Value Fund by 17.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,862,303 shares of the closed-end fund’s stock valued at $26,390,000 after purchasing an additional 422,222 shares during the last quarter. Bank of America Corp DE acquired a new stake in Nuveen Municipal Value Fund in the 2nd quarter worth $11,867,000. Van ECK Associates Corp grew its position in Nuveen Municipal Value Fund by 3.0% in the 2nd quarter. Van ECK Associates Corp now owns 1,098,087 shares of the closed-end fund’s stock worth $10,124,000 after purchasing an additional 31,841 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Nuveen Municipal Value Fund by 8.7% during the 1st quarter. Royal Bank of Canada now owns 620,206 shares of the closed-end fund’s stock worth $5,576,000 after purchasing an additional 49,645 shares during the period. Finally, Tortoise Investment Management LLC bought a new position in shares of Nuveen Municipal Value Fund during the 2nd quarter worth about $4,703,000. Institutional investors and hedge funds own 22.50% of the company’s stock.

Nuveen Municipal Value Fund Company Profile

Nuveen Municipal Value Fund (NYSE: NUV) is a closed-end investment fund managed by Nuveen Asset Management, LLC. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal securities issued by states, cities, counties and other governmental entities.

Its portfolio may include a broad range of investment-grade and below-investment-grade municipal bonds, including general obligation and revenue bonds. These securities can finance public infrastructure and services such as schools, transportation systems, utilities and health care facilities.