Nuveen Municipal Value Fund, Inc. (NYSE:NUV – Get Rating) announced a monthly dividend on Monday, May 2nd, Zacks reports. Shareholders of record on Friday, May 13th will be given a dividend of 0.028 per share by the closed-end fund on Wednesday, June 1st. This represents a $0.34 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Thursday, May 12th.
NYSE:NUV opened at $8.98 on Tuesday. Nuveen Municipal Value Fund has a 12 month low of $8.97 and a 12 month high of $11.94. The stock has a 50 day moving average of $9.38.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its stake in Nuveen Municipal Value Fund by 2.9% in the 2nd quarter. Morgan Stanley now owns 4,172,692 shares of the closed-end fund’s stock worth $48,111,000 after purchasing an additional 117,967 shares in the last quarter. BlackRock Inc. purchased a new stake in Nuveen Municipal Value Fund in the 4th quarter worth $1,453,000. Millennium Management LLC purchased a new stake in Nuveen Municipal Value Fund in the 4th quarter worth $731,000. Salem Investment Counselors Inc. purchased a new stake in Nuveen Municipal Value Fund in the 4th quarter worth $260,000. Finally, NewEdge Advisors LLC purchased a new stake in Nuveen Municipal Value Fund in the 4th quarter worth $225,000. Institutional investors own 14.53% of the company’s stock.
Nuveen 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 the United States. The fund also invests some portion of its portfolio in derivative instruments.
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