Nuveen Credit Strategies Income Fund (NYSE:JQC) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

Nuveen Credit Strategies Income Fund (NYSE:JQC) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.73 and traded as low as $5.66. Nuveen Credit Strategies Income Fund shares last traded at $5.70, with a volume of 648,600 shares.

Nuveen Credit Strategies Income Fund Price Performance

The business’s 50-day moving average is $5.79 and its two-hundred day moving average is $5.73.

Nuveen Credit Strategies Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be issued a $0.054 dividend. This represents a $0.65 dividend on an annualized basis and a yield of 11.37%. The ex-dividend date is Wednesday, January 15th.

Hedge Funds Weigh In On Nuveen Credit Strategies Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quad Cities Investment Group LLC raised its position in shares of Nuveen Credit Strategies Income Fund by 5.8% during the 3rd quarter. Quad Cities Investment Group LLC now owns 32,045 shares of the investment management company’s stock worth $186,000 after purchasing an additional 1,756 shares during the last quarter. ORG Partners LLC acquired a new position in shares of Nuveen Credit Strategies Income Fund in the 3rd quarter valued at $670,000. Annex Advisory Services LLC purchased a new stake in shares of Nuveen Credit Strategies Income Fund during the 3rd quarter valued at $97,000. Cetera Investment Advisers increased its holdings in shares of Nuveen Credit Strategies Income Fund by 7.8% during the 2nd quarter. Cetera Investment Advisers now owns 383,527 shares of the investment management company’s stock worth $2,129,000 after buying an additional 27,810 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Nuveen Credit Strategies Income Fund in the second quarter valued at $34,000.

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.