Nuveen Mortgage and Income Fund (NYSE:JLS) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Nuveen Mortgage and Income Fund (NYSE:JLS) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $18.30 and traded as high as $18.46. Nuveen Mortgage and Income Fund shares last traded at $18.33, with a volume of 13,318 shares trading hands.

Nuveen Mortgage and Income Fund Trading Up 0.5 %

The firm has a fifty day simple moving average of $18.31 and a 200 day simple moving average of $18.01.

Nuveen Mortgage and Income Fund Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.1535 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 10.00%. The ex-dividend date of this dividend is Friday, November 15th.

Institutional Investors Weigh In On Nuveen Mortgage and Income Fund

Several hedge funds have recently made changes to their positions in JLS. Clear Point Advisors Inc. bought a new stake in Nuveen Mortgage and Income Fund in the first quarter valued at about $35,000. International Assets Investment Management LLC bought a new position in shares of Nuveen Mortgage and Income Fund during the 2nd quarter worth approximately $53,000. Atomi Financial Group Inc. acquired a new stake in Nuveen Mortgage and Income Fund in the 3rd quarter valued at $191,000. Fiera Capital Corp bought a new stake in Nuveen Mortgage and Income Fund in the third quarter valued at $506,000. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in shares of Nuveen Mortgage and Income Fund by 2.8% during the second quarter. Nations Financial Group Inc. IA ADV now owns 36,542 shares of the company’s stock valued at $658,000 after acquiring an additional 1,000 shares during the period.

About Nuveen Mortgage and Income Fund

Nuveen Mortgage and Income Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC, Nuveen Asset Management, LLC, and Wellington Management Company LLP. It invests in the fixed income markets of the United States. The fund invests in undervalued mortgage-backed securities consisting primarily of non-agency residential mortgage-backed securities and commercial mortgage-backed securities with a favorable total return potential.