Nuveen Core Equity Alpha Fund (NYSE:JCE) Short Interest Up 99.2% in July

Nuveen Core Equity Alpha Fund (NYSE:JCE) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 36,684 shares, a growth of 99.2% from the June 30th total of 18,418 shares. Based on an average daily volume of 36,607 shares, the short-interest ratio is currently 1.0 days.

Nuveen Core Equity Alpha Fund Stock Performance

Shares of Nuveen Core Equity Alpha Fund stock traded up $0.05 during midday trading on Friday, reaching $16.42. The company had a trading volume of 25,449 shares, compared to its average volume of 43,638. The stock has a fifty day simple moving average of $16.31 and a 200 day simple moving average of $15.91. Nuveen Core Equity Alpha Fund has a 1-year low of $13.99 and a 1-year high of $16.72.

Nuveen Core Equity Alpha Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th were paid a $0.364 dividend. This is an increase from Nuveen Core Equity Alpha Fund’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.46 annualized dividend and a dividend yield of 8.9%.

Hedge Funds Weigh In On Nuveen Core Equity Alpha Fund

Several large investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its position in Nuveen Core Equity Alpha Fund by 2.9% in the first quarter. NewEdge Advisors LLC now owns 30,515 shares of the company’s stock worth $451,000 after purchasing an additional 862 shares during the period. Western Wealth Management LLC acquired a new position in Nuveen Core Equity Alpha Fund during the 1st quarter valued at about $36,000. Bank of America Corp DE boosted its stake in shares of Nuveen Core Equity Alpha Fund by 6.8% in the 1st quarter. Bank of America Corp DE now owns 35,792 shares of the company’s stock valued at $529,000 after purchasing an additional 2,285 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of Nuveen Core Equity Alpha Fund in the 1st quarter valued at about $59,000. Finally, PMG Family Office LLC grew its position in shares of Nuveen Core Equity Alpha Fund by 7.0% during the 1st quarter. PMG Family Office LLC now owns 29,369 shares of the company’s stock worth $444,000 after buying an additional 1,924 shares during the period.

Nuveen Core Equity Alpha Fund Company Profile

Nuveen Core Equity Alpha Fund (NYSE: JCE) is a diversified, closed-end management investment company sponsored by Nuveen, a TIAA company. The fund’s primary objective is to seek total return through a combination of income and capital appreciation. Nuveen Core Equity Alpha Fund manages its portfolio primarily in U.S. equity securities, focusing on established, large-capitalization companies across multiple sectors.

Under the direction of Nuveen’s equity specialists, the fund employs a bottom-up research process to identify companies with attractive valuation, quality earnings prospects and sustainable cash flow.