Nuveen Core Equity Alpha Fund said on September 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 September 14, 2023 to qualify for the dividend. Shareholders of record as of September 15, 2023 will receive the payment on October 2, 2023.
At the current share price of $12.96 / share, the stock's dividend yield is 9.88%.
Looking back five years and taking a sample every week, the average dividend yield has been 9.68%, the lowest has been 6.96%, and the highest has been 20.76%. The standard deviation of yields is 2.56 (n=235).
The current dividend yield is 0.08 standard deviations above the historical average.
- Read the Ultimate Guide to Dividend Harvesting.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 50 funds or institutions reporting positions in Nuveen Core Equity Alpha Fund. This is an increase of 4 owner(s) or 8.70% in the last quarter. Average portfolio weight of all funds dedicated to JCE is 0.04%, an increase of 76.88%. Total shares owned by institutions increased in the last three months by 21.11% to 3,342K shares.
What are Other Shareholders Doing?
Raymond James & Associates holds 398K shares. In it's prior filing, the firm reported owning 391K shares, representing an increase of 1.70%. The firm decreased its portfolio allocation in JCE by 0.09% over the last quarter.
Cohen & Steers holds 302K shares. In it's prior filing, the firm reported owning 212K shares, representing an increase of 29.71%. The firm increased its portfolio allocation in JCE by 43.68% over the last quarter.
Guggenheim Capital holds 241K shares. In it's prior filing, the firm reported owning 303K shares, representing a decrease of 25.84%. The firm increased its portfolio allocation in JCE by 3.20% over the last quarter.
Raymond James Financial Services Advisors holds 222K shares. In it's prior filing, the firm reported owning 29K shares, representing an increase of 86.70%. The firm increased its portfolio allocation in JCE by 625.38% over the last quarter.
Advisors Asset Management holds 198K shares. In it's prior filing, the firm reported owning 205K shares, representing a decrease of 3.45%. The firm increased its portfolio allocation in JCE by 0.54% 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.
Additional reading:
- Nuveen Fund Advisors, LLC is the registrant’s investment adviser (also referred to as the “Adviser”). The Adviser is responsible for the on-going monitoring of the Fund’s investment portfolio, managing the Fund’s business affairs and providing certain clerical, bookkeeping and administrative services. The Adviser has engaged Nuveen Asset Management, LLC (“Sub-Adviser”) as Sub-Adviser to provide discretionary investment advisory services. As part of these services, the Adviser has delegated to the Sub-Adviser the full responsibility for proxy voting on securities held in the registrant’s portfolio and related duties in accordance with the Sub-Adviser’s policies and procedures. The Adviser periodically monitors the Sub-Adviser’s voting to ensure that it is carrying out its duties. The Sub-Adviser’s proxy voting policies and procedures are attached to this filing as an exhibit.
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