Key Points
- Insider purchase: Robert Young acquired 36,430 NUV shares at an average price of $8.25, for a total investment of $300,547.50. The transaction increased his direct ownership to 36,430 shares.
- Dividend: Nuveen Municipal Value Fund declared a monthly dividend of $0.0325 per share, equivalent to $0.39 annually and a 4.7% yield.
- Trading and ownership: NUV opened at $8.32, within its 52-week range of $8.02 to $9.26. Institutional investors and hedge funds own 22.5% of the fund.
Nuveen Municipal Value Fund, Inc. (NYSE:NUV - Get Free Report) insider Young Robert purchased 36,430 shares of the stock in a transaction on Friday, October 23rd. The shares were purchased at an average price of $8.25 per share, with a total value of $300,547.50. Following the acquisition, the insider directly owned 36,430 shares in the company, valued at $300,547.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Nuveen Municipal Value Fund Trading Up 0.4%
NYSE NUV opened at $8.32 on Wednesday. Nuveen Municipal Value Fund, Inc. has a 52 week low of $8.02 and a 52 week high of $9.26. The firm has a 50 day moving average of $8.52 and a two-hundred day moving average of $8.97.
Nuveen Municipal Value Fund Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be given a dividend of $0.0325 per share. This represents a $0.39 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, October 15th.
Hedge Funds Weigh In On Nuveen Municipal Value Fund
A number of institutional investors and hedge funds have recently modified their holdings of the company. Roman Butler Fullerton & Co. increased its holdings in Nuveen Municipal Value Fund by 3.1% in the third quarter. Roman Butler Fullerton & Co. now owns 266,253 shares of the closed-end fund's stock valued at $2,207,000 after buying an additional 8,046 shares during the last quarter. Seamount Financial Group Inc. lifted its holdings in Nuveen Municipal Value Fund by 6.4% during the 3rd quarter. Seamount Financial Group Inc. now owns 83,308 shares of the closed-end fund's stock worth $691,000 after buying an additional 5,013 shares during the last quarter. Capital Advisors Wealth Management LLC lifted its holdings in Nuveen Municipal Value Fund by 11.3% during the 3rd quarter. Capital Advisors Wealth Management LLC now owns 62,063 shares of the closed-end fund's stock worth $515,000 after buying an additional 6,284 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Nuveen Municipal Value Fund by 24.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 54,879 shares of the closed-end fund's stock worth $506,000 after acquiring an additional 10,941 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Nuveen Municipal Value Fund during the 2nd quarter worth about $170,000. Institutional investors and hedge funds own 22.50% of the company's stock.
About Nuveen Municipal Value Fund
(
Get Free Report)
Nuveen Municipal Value Fund, Inc is a closed-end fund listed on the New York Stock Exchange under the symbol NUV. The fund seeks to provide current income exempt from regular federal income tax by investing primarily in a portfolio of municipal securities issued by states, cities, counties, and other governmental entities in the United States.
Its portfolio may include a range of tax-exempt obligations, such as general obligation bonds, revenue bonds, and other municipal debt securities.
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