NVG Stock Summary and Trading Ideas (Nuveen Amount Free Muni Credit Income | NYSE:NVG)

The fund seeks current income exempt from regular federal income tax. The secondary investment objective is the enhancement of portfolio value. The fund invests in municipal securities that are exempt from federal 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 uses leverage

Nuveen Amount Free Muni Credit Income trades on the NYSE stock market under the symbol NVG.

As of April 24, 2024, NVG stock price declined to $11.60 with 447,463 million shares trading.

NVG has a beta of 0.71, meaning it tends to be less sensitive to market movements. NVG has a correlation of 0.32 to the broad based SPY ETF.

NVG has a market cap of $2.48 billion. This is considered a Mid Cap stock.

In the last 3 years, NVG stock traded as high as $18.27 and as low as $9.68.

NVG has underperformed the market in the last year with a return of +4.4%, while the SPY ETF gained +24.2%. In the last 3 month period, NVG fell short of the market, returning +2.2%, while SPY returned +4.6%. However, in the most recent 2 weeks NVG has outperformed the stock market by returning -1.9%, while SPY returned -2.7%.

NVG support price is $11.58 and resistance is $11.72 (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 NVG stock will trade within this expected range on the day.