Nuveen Credit Strategies Income Fund (NYSE:JQC) Share Price Breaks Below 200 Day Moving Average – Time to Sell?

Shares of Nuveen Credit Strategies Income Fund (NYSE:JQC) crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $4.77 and traded as low as $4.49. Nuveen Credit Strategies Income Fund shares last traded at $4.5050, with a volume of 560,407 shares.

Nuveen Credit Strategies Income Fund Price Performance

The firm has a 50-day moving average of $4.70 and a two-hundred day moving average of $4.77.

Nuveen Credit Strategies Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.0495 per share. The ex-dividend date is Thursday, October 15th. This represents a $0.59 annualized dividend and a yield of 13.1%.

Hedge Funds Weigh In On Nuveen Credit Strategies Income Fund

A number of large investors have recently modified their holdings of the company. Ameritas Advisory Services LLC purchased a new stake in Nuveen Credit Strategies Income Fund during the second quarter worth approximately $54,000. Wealthspan Partners LLC acquired a new stake in shares of Nuveen Credit Strategies Income Fund in the second quarter worth $55,000. Equitable Holdings Inc. acquired a new stake in shares of Nuveen Credit Strategies Income Fund in the second quarter worth $63,000. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in shares of Nuveen Credit Strategies Income Fund in the 2nd quarter valued at $71,000. Finally, Citadel Advisors LLC purchased a new position in shares of Nuveen Credit Strategies Income Fund in the 2nd quarter valued at $77,000.

Nuveen Credit Strategies Income Fund Company Profile

Nuveen Credit Strategies Income Fund is a closed-end management investment company listed on the New York Stock Exchange under the symbol JQC. The fund seeks to provide current income and total return by investing in a diversified portfolio of credit-related securities.

Its investments may include senior secured loans, below-investment-grade corporate debt, high-yield bonds, collateralized loan obligations and other floating-rate or structured credit instruments. These securities are generally issued by companies across a range of industries and may include investments in U.S.