What’s Next for Nuveen Credit Strategies Income Fund (JQC) After Forming Wedge Down?

July 17, 2017 - By Marie Mckinney

Investors sentiment decreased to 0.72 in 2016 Q4. Its down 0.26, from 0.98 in 2016Q3. It turned negative, as 13 investors sold Nuveen Credit Strategies Income Fund shares while 34 reduced holdings. 13 funds opened positions while 21 raised stakes. 35.87 million shares or 9.01% less from 39.42 million shares in 2016Q3 were reported.
Northern Tru holds 0% in Nuveen Credit Strategies Income Fund (NYSE:JQC) or 11,409 shares. Robinson Capital Management Limited holds 0.29% or 60,100 shares in its portfolio. Pnc Fin Service Inc accumulated 54,431 shares. Mcgowan Asset Management, a Texas-based fund reported 29,277 shares. 26,700 were reported by Seabridge Inv Advisors Lc. Natl Bank Of America De reported 307,697 shares stake. Thomas J Herzfeld invested in 1.15% or 279,872 shares. Credit Suisse Ag reported 140,788 shares or 0% of all its holdings. Wells Fargo And Mn holds 1.40 million shares or 0% of its portfolio. Royal Retail Bank Of Canada has invested 0% of its portfolio in Nuveen Credit Strategies Income Fund (NYSE:JQC). Reliance Of Delaware has 11,634 shares. Meridian Counsel reported 0.06% in Nuveen Credit Strategies Income Fund (NYSE:JQC). Two Sigma Securities Ltd Liability owns 27,511 shares for 0.08% of their portfolio. Moreover, Us Natl Bank De has 0% invested in Nuveen Credit Strategies Income Fund (NYSE:JQC) for 2,500 shares. Dubuque Commercial Bank And Tru has 262,725 shares.

The stock of Nuveen Credit Strategies Income Fund (JQC) formed a down wedge with $8.25 target or 3.00 % below today’s $8.51 share price. The 9 months wedge indicates high risk for the $1.16 billion company. If the $8.25 price target is reached, the company will be worth $34.80M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

About 416,782 shares traded or 2.51% up from the average. Nuveen Credit Strategies Income Fund (NYSE:JQC) has risen 8.82% since July 17, 2016 and is uptrending. It has underperformed by 7.88% the S&P500.

More notable recent Nuveen Credit Strategies Income Fund (NYSE:JQC) news were published by: Nasdaq.com which released: “Nuveen Credit Strategies Income Fund (JQC) Ex-Dividend Date Scheduled for …” on April 10, 2017, also Seekingalpha.com with their article: “Arbitrage Opportunity In Floating Rate Bond Funds” published on January 30, 2017, Seekingalpha.com published: “Ride The Fed’s Rate Hikes With This Closed-End Fund” on March 06, 2017. More interesting news about Nuveen Credit Strategies Income Fund (NYSE:JQC) were released by: Nasdaq.com and their article: “Nuveen Credit Strategies Income Fund (JQC) Ex-Dividend Date Scheduled for July …” published on July 11, 2017 as well as Seekingalpha.com‘s news article titled: “Nuveen Credit Strategies Income Fund: A Solid Core Holding For CEF Investors” with publication date: February 01, 2015.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.