Nuveen Credit Strategies Income Fund (JQC) Declares $0.05 Dividend

Nuveen Credit Strategies Income Fund said on July 3, 2023 that its board of directors declared a regular monthly dividend of $0.05 per share ($0.57 annualized). Previously, the company paid $0.05 per share.

Shares must be purchased before the ex-div date of July 13, 2023 to qualify for the dividend. Shareholders of record as of July 14, 2023 will receive the payment on August 1, 2023.

At the current share price of $4.98 / share, the stock’s dividend yield is 11.45%.

Looking back five years and taking a sample every week, the average dividend yield has been 11.87%, the lowest has been 5.88%, and the highest has been 25.06%. The standard deviation of yields is 4.47 (n=195).

The current dividend yield is 0.10 standard deviations below the historical average.

The company’s 3-Year dividend growth rate is -0.45%.

What is the Fund Sentiment?

There are 190 funds or institutions reporting positions in Nuveen Credit Strategies Income Fund. This is a decrease of 4 owner(s) or 2.06% in the last quarter. Average portfolio weight of all funds dedicated to JQC is 0.19%, a decrease of 10.40%. Total shares owned by institutions decreased in the last three months by 8.94% to 62,098K shares.

What are Other Shareholders Doing?

Oak Hill Advisors holds 3,436K shares. No change in the last quarter.

Oaktree Capital Management holds 3,334K shares. In it’s prior filing, the firm reported owning 3,381K shares, representing a decrease of 1.40%. The firm increased its portfolio allocation in JQC by 3.42% over the last quarter.

Invesco holds 2,461K shares. In it’s prior filing, the firm reported owning 2,657K shares, representing a decrease of 7.96%. The firm decreased its portfolio allocation in JQC by 91.80% over the last quarter.

Saba Capital Management holds 2,424K shares. In it’s prior filing, the firm reported owning 2,587K shares, representing a decrease of 6.71%. The firm increased its portfolio allocation in JQC by 32.69% over the last quarter.

PCEF – Invesco CEF Income Composite ETF holds 2,131K shares. In it’s prior filing, the firm reported owning 2,131K shares, representing a decrease of 0.01%. The firm decreased its portfolio allocation in JQC by 1.53% over the last quarter.

Nuveen Credit Strategies Income Fund Background Information
(This description is provided by the company.)

Nuveen Credit Strategies Income Fund’s primary investment objective is high current income; and its secondary objective is total return. Under normal circumstances, the fund will invest at least 80% of its “Assets,” at time of purchase, in loans or securities that are senior to its common equity in the issuing company’s capital structure, including but not limited to debt securities and preferred securities. The Fund invests at least 70% of its “Managed Assets” in adjustable rate senior secured and second lien loans, and up to 30% opportunistically in other types of securities across a company’s capital structure, primarily income-oriented securities such as high yield debt, convertible securities and other forms of corporate debt. The fund uses leverage. Effective 17 December 2018, the fund adopted a capital return plan and will return to shareholders approximately 20 percent of common assets over the next three years through supplemental amounts included in the fund’s regular monthly distributions. For additional information, please refer to the Q&A dated January 2020.

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This story originally appeared on Fintel.

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