Nuveen Credit Strategies Income Fund (NYSE:JQC) Stock Passes Below 200-Day Moving Average – What’s Next?

Shares of Nuveen Credit Strategies Income Fund (NYSE:JQC) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.68 and traded as low as $5.31. Nuveen Credit Strategies Income Fund shares last traded at $5.35, with a volume of 1,683,730 shares traded.

Nuveen Credit Strategies Income Fund Trading Down 0.5 %

The firm has a fifty day simple moving average of $5.52 and a 200-day simple moving average of $5.68.

Nuveen Credit Strategies Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.054 per share. This represents a $0.65 annualized dividend and a dividend yield of 12.12%. The ex-dividend date of this dividend is Friday, March 14th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its position in shares of Nuveen Credit Strategies Income Fund by 10.1% during the 4th quarter. Wells Fargo & Company MN now owns 2,384,063 shares of the investment management company’s stock valued at $13,565,000 after acquiring an additional 218,137 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of Nuveen Credit Strategies Income Fund by 24.5% during the fourth quarter. Guggenheim Capital LLC now owns 2,356,452 shares of the investment management company’s stock worth $13,408,000 after purchasing an additional 463,304 shares during the period. Invesco Ltd. increased its holdings in Nuveen Credit Strategies Income Fund by 10.1% in the fourth quarter. Invesco Ltd. now owns 1,827,767 shares of the investment management company’s stock valued at $10,400,000 after purchasing an additional 168,018 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Nuveen Credit Strategies Income Fund in the fourth quarter valued at about $9,448,000. Finally, Advisors Asset Management Inc. boosted its holdings in Nuveen Credit Strategies Income Fund by 11.3% during the fourth quarter. Advisors Asset Management Inc. now owns 1,276,821 shares of the investment management company’s stock worth $7,265,000 after buying an additional 129,819 shares during the last quarter.

About Nuveen Credit Strategies Income Fund

Nuveen Credit Strategies Income Fund is a closed-ended balanced mutual fund launched by Nuveen Investments, Inc The fund is managed by Symphony Asset Management, LLC. It invests in the fixed income and public equity markets of the United States. The fund invests in senior secured and second lien loans, preferred securities, convertible securities and related instruments.