Pro-Nuveen New York Dividend Advantage Municipal Fund Institutional Investors Sentiment Runs High in Q4 2016

June 19, 2017 - By Stephen Andrade

 Pro Nuveen New York Dividend Advantage Municipal Fund Institutional Investors Sentiment Runs High in  Q4 2016

Sentiment for Nuveen New York Dividend Advantage Municipal Fund (NYSE:NAN)

Nuveen New York Dividend Advantage Municipal Fund (NYSE:NAN) institutional sentiment increased to 2 in Q4 2016. Its up 0.64, from 1.36 in 2016Q3. The ratio is positive, as 20 hedge funds increased or started new holdings, while 10 reduced and sold stakes in Nuveen New York Dividend Advantage Municipal Fund. The hedge funds in our partner’s database now have: 2.73 million shares, up from 2.58 million shares in 2016Q3. Also, the number of hedge funds holding Nuveen New York Dividend Advantage Municipal Fund in their top 10 holdings was flat from 1 to 1 for the same number . Sold All: 4 Reduced: 6 Increased: 11 New Position: 9.

Nuveen New York Quality Municipal Income Fund, formerly Nuveen New York Dividend Advantage Municipal Fund, is a diversified, closed-end management investment fund. The company has market cap of $434.84 million. The Fund’s investment objective is to provide current income exempt from both regular federal and New York state income taxes. It currently has negative earnings. The Fund invests over 80% of its managed assets in securities rated, at the time of investment, investment grade or if they are unrated.

About 2,005 shares traded. Nuveen New York Dividend Advntg Mncpl Fd (NYSE:NAN) has declined 7.61% since June 19, 2016 and is downtrending. It has underperformed by 24.31% the S&P500.

Tortoise Investment Management Llc holds 3.59% of its portfolio in Nuveen New York Dividend Advntg Mncpl Fd for 776,680 shares. Fic Capital Inc owns 12,260 shares or 0.08% of their US portfolio. Moreover, Landscape Capital Management L.L.C. has 0.06% invested in the company for 34,369 shares. The New York-based Horizon Kinetics Llc has invested 0.03% in the stock. Weiss Asset Management Lp, a Massachusetts-based fund reported 14,918 shares.#img1#

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