Nuveen Core Equity Alpha Fund (NYSE:JCE) Sees Significant Increase in Short Interest
by Tristan Rich · The Markets DailyNuveen Core Equity Alpha Fund (NYSE:JCE – Get Free Report) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 20,520 shares, a growth of 50.7% from the February 26th total of 13,620 shares. Based on an average daily volume of 36,968 shares, the short-interest ratio is currently 0.6 days.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the business. Cornerstone Advisors LLC raised its holdings in shares of Nuveen Core Equity Alpha Fund by 217.7% in the third quarter. Cornerstone Advisors LLC now owns 181,517 shares of the company’s stock worth $2,855,000 after buying an additional 124,383 shares during the period. Thrivent Financial for Lutherans bought a new position in Nuveen Core Equity Alpha Fund in the 3rd quarter valued at $1,186,000. Wolverine Asset Management LLC grew its position in Nuveen Core Equity Alpha Fund by 239.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 97,115 shares of the company’s stock valued at $1,528,000 after acquiring an additional 68,496 shares during the last quarter. PMG Family Office LLC purchased a new stake in Nuveen Core Equity Alpha Fund in the third quarter worth $440,000. Finally, Invesco Ltd. increased its stake in Nuveen Core Equity Alpha Fund by 11.2% in the fourth quarter. Invesco Ltd. now owns 270,120 shares of the company’s stock worth $4,306,000 after purchasing an additional 27,289 shares during the period.
Nuveen Core Equity Alpha Fund Stock Performance
Shares of NYSE JCE traded down $0.32 during trading hours on Friday, hitting $14.13. 35,072 shares of the company traded hands, compared to its average volume of 46,450. The company’s 50 day moving average price is $15.60 and its 200 day moving average price is $15.71. Nuveen Core Equity Alpha Fund has a 12 month low of $12.51 and a 12 month high of $16.31.
Nuveen Core Equity Alpha Fund Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a $0.34 dividend. This is a boost from Nuveen Core Equity Alpha Fund’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, March 13th. This represents a $1.36 annualized dividend and a dividend yield of 9.6%.
Nuveen Core Equity Alpha Fund Company Profile
Nuveen Core Equity Alpha Fund (NYSE: JCE) is a diversified, closed-end management investment company sponsored by Nuveen, a TIAA company. The fund’s primary objective is to seek total return through a combination of income and capital appreciation. Nuveen Core Equity Alpha Fund manages its portfolio primarily in U.S. equity securities, focusing on established, large-capitalization companies across multiple sectors.
Under the direction of Nuveen’s equity specialists, the fund employs a bottom-up research process to identify companies with attractive valuation, quality earnings prospects and sustainable cash flow.