Nuveen Credit Strategies Income Fund (NYSE:JQC) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Nuveen Credit Strategies Income Fund (NYSE:JQC)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.73 and traded as low as $5.55. Nuveen Credit Strategies Income Fund shares last traded at $5.56, with a volume of 847,062 shares trading hands.

Nuveen Credit Strategies Income Fund Stock Down 0.3 %

The company has a 50 day moving average of $5.74 and a two-hundred day moving average of $5.73.

Nuveen Credit Strategies Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.054 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 11.67%.

Institutional Trading of Nuveen Credit Strategies Income Fund

Several institutional investors have recently modified their holdings of the stock. Sovran Advisors LLC purchased a new position in shares of Nuveen Credit Strategies Income Fund in the fourth quarter worth about $3,027,000. Penserra Capital Management LLC grew its position in shares of Nuveen Credit Strategies Income Fund by 16.7% in the third quarter. Penserra Capital Management LLC now owns 2,893,383 shares of the investment management company’s stock valued at $16,752,000 after purchasing an additional 413,403 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Nuveen Credit Strategies Income Fund by 479.0% in the third quarter. International Assets Investment Management LLC now owns 487,124 shares of the investment management company’s stock valued at $2,820,000 after purchasing an additional 402,992 shares during the last quarter. Encompass More Asset Management acquired a new position in shares of Nuveen Credit Strategies Income Fund during the 3rd quarter valued at about $708,000. Finally, ORG Partners LLC purchased a new stake in shares of Nuveen Credit Strategies Income Fund during the 3rd quarter valued at approximately $670,000.

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.