Nuveen Credit Strategies Income Fund (NYSE:JQC) Shares Pass Above 50 Day Moving Average – Time to Sell?

Nuveen Credit Strategies Income Fund (NYSE:JQC)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.78 and traded as high as $5.94. Nuveen Credit Strategies Income Fund shares last traded at $5.89, with a volume of 585,787 shares changing hands.

Nuveen Credit Strategies Income Fund Trading Down 0.7 %

The firm has a fifty day moving average price of $5.78 and a 200-day moving average price of $5.71.

Nuveen Credit Strategies Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.054 dividend. This represents a $0.65 annualized dividend and a yield of 11.00%. The ex-dividend date is Friday, December 13th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in Nuveen Credit Strategies Income Fund in the second quarter valued at about $34,000. J.W. Cole Advisors Inc. bought a new position in shares of Nuveen Credit Strategies Income Fund in the second quarter worth about $67,000. First Heartland Consultants Inc. acquired a new stake in shares of Nuveen Credit Strategies Income Fund in the 2nd quarter valued at approximately $68,000. Sanctuary Advisors LLC bought a new stake in shares of Nuveen Credit Strategies Income Fund during the 2nd quarter valued at approximately $77,000. Finally, Perfromance Wealth Partners LLC acquired a new position in Nuveen Credit Strategies Income Fund during the 3rd quarter worth approximately $82,000.

About Nuveen Credit Strategies Income Fund

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.