Portfolio Manager Aashh Parekh of Nuveen Mortgage & Income Fund (NYSE:JLS) has recently sold shares of the company's common stock, according to the latest filings. On June 21, 2024, Parekh disposed of 276 shares at a price of $18.134 each, totaling over $5,000 in the transaction.
The sale was executed as Parekh continues to manage a significant portion of shares, with 4,401 shares remaining in their possession following the transaction. This move by the portfolio manager is part of the routine financial disclosures required by company insiders.
Investors and market watchers often keep an eye on insider transactions as they can provide insights into the company's financial health and the confidence level of its executives. While the reasons for Parekh's sale were not disclosed, such transactions are a regular practice in the market and are disclosed to the public in compliance with SEC regulations.
Nuveen Mortgage & Income Fund, with its trading symbol JLS, is a well-known investment vehicle that operates within the financial sector. The sale took place under the power of attorney, as indicated by the signature of Mark L. Winget on the filing, suggesting that Parekh had previously arranged for the execution of such transactions.
Investors interested in the fund's activities and the portfolio manager's transactions can access detailed information through the SEC's public filings. The disclosures serve to maintain transparency in the market and ensure that all stakeholders are well-informed about significant insider trades.
InvestingPro Insights
In light of the recent insider trading activity by Portfolio Manager Aashh Parekh of Nuveen Mortgage & Income Fund, investors might consider several key metrics and tips provided by InvestingPro to gain a deeper understanding of the company's financial posture.
InvestingPro Data reveals that Nuveen Mortgage & Income Fund has a market capitalization of $99.29 million, which provides a sense of the company's size in the financial sector. Notably, the fund has a significant dividend yield of 10.23% as of the last dividend's ex-date on June 14, 2024. This is a compelling figure for income-focused investors, especially considering that the company has maintained dividend payments for 15 consecutive years, a testament to its commitment to returning value to shareholders.
The fund's recent price performance also paints a picture of stability and growth, with a 1-month price total return of 3.57% and a 6-month price total return of 11.05%. Additionally, the fund is trading near its 52-week high, at 99.56% of this threshold, indicating that investor sentiment has been positive and the stock has been performing well in the market.
InvestingPro Tips highlight that while Nuveen Mortgage & Income Fund pays a significant dividend to shareholders, it also suffers from weak gross profit margins and a valuation that implies a poor free cash flow yield. These insights could be crucial for investors who balance the search for income with the need for a company to sustain its dividends through healthy cash flows.
For those who want to delve deeper into the financials and strategic outlook of Nuveen Mortgage & Income Fund, InvestingPro offers additional tips that can be accessed at https://www.investing.com/pro/JLS. There are more than 5 InvestingPro Tips available, providing a comprehensive analysis for informed investment decisions. Moreover, by using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable insights into the company and the market at large.
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