Dividend Report: Can Nuveen Credit Strategies Income Fund (NYSE:JQC) truly back claims of $0.05 dividends by Nov 1, 2016?

Dividend Report: Can Nuveen Credit Strategies Income Fund (NYSE:JQC) truly back claims of $0.05 dividends by Nov 1, 2016?

Nuveen Credit Strategies Income Fund (NYSE:JQC) is expected to pay $0.05 on Nov 1, 2016. The indicated annual dividend is $0.62. Shareholders owning the stock before Oct 12, 2016 will be eligible to receive the payout. Based on Nuveen Credit Strategies Income Fund’s current price of $8.51, the dividend is 0.61%. This dividend’s record date is Oct 14, 2016 and the announcement date is Oct 6, 2016. The stock increased 0.24% or $0.02 on October 10, hitting $8.51. Nuveen Credit Strategies Income Fund (NYSE:JQC) has risen 9.95% since March 8, 2016 and is uptrending. It has outperformed by 0.63% the S&P500.

Nuveen Credit Strategies Income Fund is a diversified closed-end management investment company. The company has a market cap of $1.16 billion. The Fund’s investment objectives are high current income and total return. It currently has negative earnings. The Fund meets its investment objectives by investing approximately 70% of its managed assets in senior secured and second lien loans, and around 30% of its managed assets across the capital structure of companies (including equity securities) with focus on high yield bonds, convertible securities and other forms of income-producing securities.

Insitutional Activity: The institutional sentiment decreased to 0.72 in Q2 2016. Its down 0.12, from 0.84 in 2016Q1. The ratio fall, as 17 funds sold all Nuveen Credit Strategies Income Fund shares owned while 36 reduced positions. 10 funds bought stakes while 28 increased positions. They now own 41.83 million shares or 2.74% less from 43.01 million shares in 2016Q1.
The Illinois-based Drw Ltd Company has invested 0.02% in Nuveen Credit Strategies Income Fund (NYSE:JQC). Cohen Steers has invested 0.04% of its portfolio in Nuveen Credit Strategies Income Fund (NYSE:JQC). Moreover, Jpmorgan Chase has 0.01% invested in Nuveen Credit Strategies Income Fund (NYSE:JQC) for 3.31 million shares. City Of London Inv Management Limited reported 330,578 shares or 0.21% of all its holdings. Massmutual Fsb Adv owns 251 shares or 0% of their US portfolio. Envestnet Asset Mgmt accumulated 619,903 shares or 0.02% of the stock. Fifth Third Comml Bank holds 8,900 shares or 0% of its portfolio. Robinson Capital Ltd Llc, a Michigan-based fund reported 87,500 shares. First Comml Bank And Trust Company Of Newtown accumulated 162,753 shares or 0.42% of the stock. Us Bank De owns 2,500 shares or 0% of their US portfolio. Moreover, Guggenheim Cap Lc has 0.03% invested in Nuveen Credit Strategies Income Fund (NYSE:JQC) for 1.23 million shares. Mcgowan Gp Asset Mgmt Inc has invested 0.04% of its portfolio in Nuveen Credit Strategies Income Fund (NYSE:JQC). Oxbow Advsrs reported 183,313 shares or 0.21% of all its holdings. Morgan Stanley holds 2.66 million shares or 0.01% of its portfolio. Moreover, Henderson Grp Public Ltd Com has 0.02% invested in Nuveen Credit Strategies Income Fund (NYSE:JQC) for 331,200 shares.

JQC Company Profile

Nuveen Multi-Strategy Income & Growth Fund 2 (the Fund), formerly Nuveen Preferred and Convertible Income Fund 2, is a diversified, closed-end management investment company. The Fund intends to invest in a portfolio of preferred securities, securities and, to a lesser degree, high yield securities. The Fund may also invest in other debt instruments and common stocks acquired upon conversion of a convertible security.

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