Nuveen Credit Strategies Income Fund (NYSE:JQC) Share Price Passes Below 50-Day Moving Average of $7.51

Nuveen Credit Strategies Income Fund (NYSE:JQC)’s stock price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $7.51 and traded as low as $7.43. Nuveen Credit Strategies Income Fund shares last traded at $7.44, with a volume of 263,035 shares changing hands.

The business’s 50-day simple moving average is $7.51 and its two-hundred day simple moving average is $7.77.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.104 dividend. This is a boost from Nuveen Credit Strategies Income Fund’s previous monthly dividend of $0.05. This represents a $1.25 dividend on an annualized basis and a yield of 16.68%. The ex-dividend date is Thursday, September 12th.

In other Nuveen Credit Strategies Income Fund news, major shareholder Saba Capital Management, L.P. sold 293,337 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $7.81, for a total value of $2,290,961.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stewart Butterfield sold 2,500 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $32.64, for a total transaction of $81,600.00. Following the completion of the transaction, the chief executive officer now directly owns 113,585 shares of the company’s stock, valued at $3,707,414.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 655,557 shares of company stock valued at $5,192,767.

Large investors have recently bought and sold shares of the business. Oxbow Advisors LLC boosted its position in Nuveen Credit Strategies Income Fund by 1.4% in the 2nd quarter. Oxbow Advisors LLC now owns 103,803 shares of the investment management company’s stock valued at $822,000 after buying an additional 1,481 shares during the last quarter. Gainplan LLC purchased a new position in Nuveen Credit Strategies Income Fund in the 2nd quarter valued at about $83,000. LLBH Private Wealth Management LLC boosted its position in Nuveen Credit Strategies Income Fund by 280.4% in the 2nd quarter. LLBH Private Wealth Management LLC now owns 95,519 shares of the investment management company’s stock valued at $199,000 after buying an additional 70,410 shares during the last quarter. Advisor Group Inc. boosted its position in Nuveen Credit Strategies Income Fund by 3.3% in the 2nd quarter. Advisor Group Inc. now owns 114,823 shares of the investment management company’s stock valued at $910,000 after buying an additional 3,655 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Nuveen Credit Strategies Income Fund by 13.3% in the 2nd quarter. First Trust Advisors LP now owns 527,030 shares of the investment management company’s stock valued at $4,174,000 after buying an additional 61,941 shares during the last quarter.

About Nuveen Credit Strategies Income Fund (NYSE:JQC)

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.

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