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

Shares of Nuveen Credit Strategies Income Fund (NYSE:JQC) 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 changing hands.

Nuveen Credit Strategies Income Fund Trading Up 0.2 %

The company has a 50-day moving average of $5.74 and a 200-day moving average of $5.73.

Nuveen Credit Strategies Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a $0.054 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $0.65 annualized dividend and a dividend yield of 11.59%.

Hedge Funds Weigh In On Nuveen Credit Strategies Income Fund

Several hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Nuveen Credit Strategies Income Fund during the second quarter worth about $34,000. Apollon Wealth Management LLC bought a new position in shares of Nuveen Credit Strategies Income Fund during the 4th quarter valued at approximately $63,000. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Nuveen Credit Strategies Income Fund during the 4th quarter worth approximately $72,000. Sanctuary Advisors LLC bought a new stake in shares of Nuveen Credit Strategies Income Fund in the 2nd quarter worth approximately $77,000. Finally, Perfromance Wealth Partners LLC purchased a new position in Nuveen Credit Strategies Income Fund in the third quarter valued at approximately $82,000.

Nuveen Credit Strategies Income Fund Company Profile

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.