NNY Stock Summary and Trading Ideas (Nuveen Ny Muni Value | NYSE:NNY)

The fund seeks to provide current income exempt from regular federal, and New York State and New York City income tax and to enhance portfolio value. The fund invests in municipal securities that are exempt from federal, New York state, and New York City income taxes. The fund invests at least 80% of its managed assets in municipal securities rated investment grade (Baa/BBB or better by S&P, Moody’s, or Fitch) at the time of investment, or, if they are unrated, are judged by the manager to be of comparable quality. The fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality, of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. The fund may invest in inverse floating rate municipal securities, also known as tender option bonds. The fund’s use of tender option bonds to more efficiently implement its investment strategy may create up to 10% effective leverage

Nuveen Ny Muni Value trades on the NYSE stock market under the symbol NNY.

As of April 19, 2024, NNY stock price climbed to $8.19 with 28,432 million shares trading.

NNY has a beta of 0.23, meaning it tends to be less sensitive to market movements. NNY has a correlation of 0.08 to the broad based SPY ETF.

NNY has a market cap of $154.75 million. This is considered a Micro Cap stock.

In the last 3 years, NNY stock traded as high as $10.35 and as low as $7.58.

NNY has underperformed the market in the last year with a return of -1.3%, while the SPY ETF gained +21.2%. In the last 3 month period, NNY fell short of the market, returning +1.3%, while SPY returned +4.3%. However, in the most recent 2 weeks NNY has outperformed the stock market by returning -0.7%, while SPY returned -3.5%.

NNY support price is $8.13 and resistance is $8.23 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NNY stock will trade within this expected range on the day.