Nuveen Credit Strategies Income Fund (NYSE:JQC) Sees Large Growth in Short Interest

Nuveen Credit Strategies Income Fund (NYSE:JQC) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 123,400 shares, an increase of 218.0% from the January 31st total of 38,800 shares. Based on an average daily volume of 666,600 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC lifted its stake in shares of Nuveen Credit Strategies Income Fund by 16.7% in the 3rd 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 during the period. Wells Fargo & Company MN lifted its stake in shares of Nuveen Credit Strategies Income Fund by 10.1% in the 4th quarter. Wells Fargo & Company MN now owns 2,384,063 shares of the investment management company’s stock valued at $13,565,000 after purchasing an additional 218,137 shares during the period. Guggenheim Capital LLC lifted its stake in shares of Nuveen Credit Strategies Income Fund by 24.5% in the 4th quarter. Guggenheim Capital LLC now owns 2,356,452 shares of the investment management company’s stock valued at $13,408,000 after purchasing an additional 463,304 shares during the period. Invesco Ltd. lifted its stake in shares of Nuveen Credit Strategies Income Fund by 10.1% in the 4th quarter. Invesco Ltd. now owns 1,827,767 shares of the investment management company’s stock valued at $10,400,000 after purchasing an additional 168,018 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Nuveen Credit Strategies Income Fund in the 4th quarter valued at approximately $9,448,000.

Nuveen Credit Strategies Income Fund Price Performance

Shares of JQC stock traded up $0.04 during mid-day trading on Friday, reaching $5.55. The stock had a trading volume of 641,402 shares, compared to its average volume of 601,299. The stock’s 50-day moving average price is $5.62 and its two-hundred day moving average price is $5.72. Nuveen Credit Strategies Income Fund has a 52-week low of $5.30 and a 52-week high of $5.94.

Nuveen Credit Strategies Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.054 dividend. This represents a $0.65 annualized dividend and a yield of 11.69%. The ex-dividend date is Friday, February 14th.

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.