Nuveen Credit Strategies Income Fund (NYSE:JQC) Share Price Crosses Below 200-Day Moving Average Following Insider Selling

Share on StockTwits

Nuveen Credit Strategies Income Fund (NYSE:JQC) passed below its 200-day moving average during trading on Wednesday after an insider sold shares in the company. The stock has a 200-day moving average of $0.00 and traded as low as $7.82. Nuveen Credit Strategies Income Fund shares last traded at $7.82, with a volume of 7,196 shares.

Specifically, major shareholder Saba Capital Management, L.P. sold 359,720 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $7.84, for a total value of $2,820,204.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

The company has a 50-day moving average price of $7.85.

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be given a dividend of $0.104 per share. The ex-dividend date is Friday, July 12th. This represents a $1.25 annualized dividend and a dividend yield of 15.96%. This is a boost from Nuveen Credit Strategies Income Fund’s previous monthly dividend of $0.05.

Large investors have recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC grew its position in shares of Nuveen Credit Strategies Income Fund by 15.3% during the second quarter. Capital Investment Advisors LLC now owns 16,100 shares of the investment management company’s stock worth $128,000 after purchasing an additional 2,140 shares in the last quarter. Quad Cities Investment Group LLC boosted its stake in Nuveen Credit Strategies Income Fund by 9.1% during the second quarter. Quad Cities Investment Group LLC now owns 48,209 shares of the investment management company’s stock valued at $382,000 after buying an additional 4,020 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Nuveen Credit Strategies Income Fund by 56.6% during the first quarter. First Trust Advisors LP now owns 465,089 shares of the investment management company’s stock valued at $3,595,000 after buying an additional 168,017 shares during the last quarter.

Nuveen Credit Strategies Income Fund Company Profile (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.

See Also: Stock Symbols, CUSIP and Other Stock Identifiers

Receive News & Ratings for Nuveen Credit Strategies Income Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuveen Credit Strategies Income Fund and related companies with MarketBeat.com's FREE daily email newsletter.