Nuveen Core Equity Alpha Fund said on June 1, 2023 that its board of directors declared a regular quarterly dividend of $0.32 per share ($1.28 annualized). Previously, the company paid $0.32 per share.
Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on July 3, 2023.
At the current share price of $12.90 / share, the stock's dividend yield is 9.92%.
Looking back five years and taking a sample every week, the average dividend yield has been 9.13%, the lowest has been 6.96%, and the highest has been 14.95%. The standard deviation of yields is 1.12 (n=236).
The current dividend yield is 0.71 standard deviations above the historical average.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 46 funds or institutions reporting positions in Nuveen Core Equity Alpha Fund. This is an increase of 6 owner(s) or 15.00% in the last quarter. Average portfolio weight of all funds dedicated to JCE is 0.03%, an increase of 86.28%. Total shares owned by institutions increased in the last three months by 9.59% to 2,759K shares.
What are Other Shareholders Doing?
Raymond James & Associates holds 391K shares. In it's prior filing, the firm reported owning 371K shares, representing an increase of 4.99%. The firm decreased its portfolio allocation in JCE by 9.42% over the last quarter.
Guggenheim Capital holds 303K shares. In it's prior filing, the firm reported owning 297K shares, representing an increase of 2.02%. The firm decreased its portfolio allocation in JCE by 33.81% over the last quarter.
Cohen & Steers holds 212K shares. In it's prior filing, the firm reported owning 133K shares, representing an increase of 37.37%. The firm increased its portfolio allocation in JCE by 42.21% over the last quarter.
Advisors Asset Management holds 205K shares. In it's prior filing, the firm reported owning 277K shares, representing a decrease of 35.56%. The firm decreased its portfolio allocation in JCE by 33.72% over the last quarter.
Invesco holds 197K shares. In it's prior filing, the firm reported owning 226K shares, representing a decrease of 14.61%. The firm decreased its portfolio allocation in JCE by 93.00% over the last quarter.
Nuveen Core Equity Alpha Fund Background Information
(This description is provided by the company.)
Nuveen Core Equity Alpha Fund's investment objective is to provide an attractive level of total return, primarily through long term capital appreciation and secondarily through income and gains. The Fund invests in a portfolio of actively managed large capitalization common stocks, using a proprietary quantitative process designed to provide the potential for long-term outperformance. The Fund also sells call options with a notional value of up to 50% of the Fund's equity portfolio in seeking to enhance risk-adjusted performance relative to an all equity portfolio.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
