Do Institutional Investors Love Nuveen Maryland Premium Income Municipal Fund (NYSE:NMY)?

Mae Love
December 7, 2017

First Trust Advisors LP grew its stake in shares of Nuveen Diversified Dividend and Income Fund by 14.2% during the 3rd quarter. A move above 70 is widely considered to show the stock as overbought, and a move below 30 would indicate that the stock may be oversold. A value of 25-50 would support a strong trend. CCI is an indicator used in technical analysis that was designed by Donald Lambert. The Williams %R oscillates in a range from 0 to -100. Currently, the 200-day MA for Nuveen Maryland Premium Fund (NMY) is sitting at 12.65. This represents a $1.08 annualized dividend and a dividend yield of 8.82%. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal. Using the ADX with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) may help determine the direction of the trend as well as the overall momentum. The ADX alone measures trend strength but not direction.

Investors may be trying to define which trends will prevail in the second half of the year.

Active investors are typically trying to beat the market any way they can. Going back a full year, shares have moved 2.29%.

Taking a deeper look into the technical levels of Nuveen Diversified Dividend and (JDD), we can see that the Williams Percent Range or 14 day Williams %R now sits at -60.00. A value of 50-75 would indicate a very strong trend, and a value of 75-100 would signify an extremely strong trend. If the indicator travels under -80, this may signal that the stock is oversold. A reading between 0 and -20 would point to an overbought situation. On the other side, a stock may be considered to be in a downtrend if trading below the moving average and sloping downward.

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Taking a closer look from a technical standpoint, Nuveen Maryland Premium Fund (NMY) presently has a 14-day Commodity Channel Index (CCI) of 134.65. Active investors may choose to use this technical indicator as a stock evaluation tool. Advisor Group Inc. now owns 26,227 shares of the company's stock worth $333,000 after purchasing an additional 2,980 shares during the period.

The Average Directional Index or ADX is technical analysis indicator used to discern if a market is trending or not trending. Different time periods may be used when using the RSI indicator. The simple moving average is a mathematical calculation that takes the average price (mean) for a given amount of time. The current 14-day RSI is presently sitting at 56.15, the 7-day is 67.31, and the 3-day is 87.06.

The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of stock price movements. The RSI can help display whether the bulls or the bears are now strongest in the market. As a general rule, an RSI reading over 70 would signal overbought conditions. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. When starting out, investors may be under the impression that taking profits in the stock market is easy.

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