Boenning & Scattergood Inc. has announced today that it has acquired a brand-new stake in Nuveen Municipal Value Fund, Inc. (NYSE:NUV) through filing with the Securities and Exchange Commission (SEC). This move is one among many the company is making toward diversifying its portfolio and achieving stable financial growth.
According to recent data from the SEC, Boenning & Scattergood Inc.’s investment fund purchased 22,500 shares of NUV’s closed-end fund stock for around $216,000 in the fourth quarter of this year. This transaction makes Boenning & Scattergood one of several hedge funds now holding a position in the company.
For those interested in tracking what other hedge funds have invested in NUV, HoldingsChannel.com provides up-to-date information regarding 13F filings and insider trades that can assist investors when making important decisions about their portfolios.
In addition to this acquisition, NUV recently announced a monthly dividend that will be paid out on May 1st to shareholders of record on April 14th. The dividend amount will be $0.028 per share, representing an annualized dividend of $0.34 per share and yielding approximately 3.77%.
This news is indicative of positive momentum within both companies and suggests an optimistic outlook towards future returns for investors. It proves beneficial to keep track of development surrounding investors as holdings change continuously and new divestments offer opportunities for those looking to invest in burgeoning enterprises or promising industries. As such, it would be advisable for investors to keep tabs on upcoming developments related to both Boenning & Scattergood Inc., and Nuveen Municipal Value Fund(NUV).
Recent Holdings Modifications in Nuveen Municipal Value Fund Catching Attention of Financial Analysts
Recent modifications in holdings of Nuveen Municipal Value Fund by large investors have caught the attention of financial analysts. Reports suggest that UBS Group AG has boosted its stock holdings in the closed-end fund by 15.3% in Q1, now owning over 3.3 million shares valued at $32.4 million. Similarly, Tiedemann Advisors LLC and Hennion & Walsh Asset Management Inc. increased their stock shares by over 70% and 81%, respectively, while Cliftonlarsonallen Wealth Advisors LLC also recently purchased a significant stake.
Furthermore, LPL Financial LLC raised their holdings in Nuveen Municipal Value Fund by 21% during Q2, adding an additional 149,124 shares to their existing portfolio worth $7.67 million.
Interestingly enough, hedge funds and institutional investors own around 17.32% of the closed-end diversified management investment fund’s stock.
As for its current market performance, on last Friday’s opening Nuveen Municipal Value Fund was priced at $8.91 with a fifty-day moving average of $8.85 and a two-hundred day moving average of $8.70. Historical data suggests that this twelve-month low is at $8.25 while its high stands at $9.56.
Established on April 8th,1987, with headquarters based in Chicago IL., Nuveen Municipal Value Fund aims to seek tax-exempt bonds and municipal market sectors for enhancing portfolio value along with providing current income exempt from federal taxes to its investors.
While it remains to be seen how these recent holdings modifications will impact the fund’s future performance amidst incumbent wider economic uncertainties due to events like COVID-19 pandemic or political decisions; it would not be far-fetched to say that all eyes are currently glued to how things will turn out for Nuveen Municipal Value Fund in the near future given it recent surge in investor interest and increasing popularity as part of the broader investment space.