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Is Nuveen Credit Strategies Income Fund (JQC) A Good Buy?

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The worries about the economic slowdown in China and the ongoing uncertainty about the path of interest-rate increases triggered several waves of equity sell-offs during the third quarter. Of course, most hedge funds and other asset managers had to stomach substantial losses during the bloody three-month period, which might have caused some to consider fleeing the U.S. equity markets. Interestingly, smaller-cap stocks registered higher losses than large-capitalization stocks during the September quarter, suggesting that institutional investors heavily discarded seemingly riskier equities amid high uncertainty and turmoil. In fact, the Russell 2000 Index lost 11.9% in the third quarter, while the Standard and Poor’s 500 benchmark declined a mere 6.4%. This article will lay out and discuss the hedge fund and institutional investor sentiment towards Nuveen Credit Strategies Income Fund (NYSE:JQC).

Nuveen Credit Strategies Income Fund shareholders have witnessed an increase in hedge fund sentiment recently. At the end of this article we will also compare JQC to other stocks including Group Inc (NASDAQ:WEB), Wright Medical Group Inc (NASDAQ:WMGI), and istar Inc (NYSE:STAR) to get a better sense of its popularity.

Follow Nuveen Credit Strategies Income Fund (NYSE:JQC)
Trade (NYSE:JQC) Now!

According to most investors, hedge funds are viewed as slow, outdated investment vehicles of years past. While there are more than 8,000 funds with their doors open today, Our researchers look at the upper echelon of this group, approximately 700 funds. It is estimated that this group of investors direct the majority of all hedge funds’ total asset base, and by keeping an eye on their top stock picks, Insider Monkey has determined several investment strategies that have historically outperformed Mr. Market. Insider Monkey’s small-cap hedge fund strategy surpassed the S&P 500 index by 12 percentage points per annum for a decade in their back tests.

Now, we’re going to take a gander at the fresh action surrounding Nuveen Credit Strategies Income Fund (NYSE:JQC).

What have hedge funds been doing with Nuveen Credit Strategies Income Fund (NYSE:JQC)?

Heading into Q4, a total of 5 of the hedge funds tracked by Insider Monkey were long this stock, a change of 25% from one quarter earlier. With hedgies’ sentiment swirling, there exists a select group of notable hedge fund managers who were upping their stakes substantially (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, William Michaelcheck’s Mariner Investment Group has the most valuable position in Nuveen Credit Strategies Income Fund (NYSE:JQC), worth close to $13.6 million, amounting to 2.8% of its total 13F portfolio. On Mariner Investment Group’s heels is GRT Capital Partners, led by Gregory Fraser, Rudolph Kluiber, and Timothy Krochuk, holding a $0.6 million position; 0.2% of its 13F portfolio is allocated to the company. Some other peers with similar optimism consist of Jonathan Barrett and Paul Segal’s Luminus Management, Mark Coe’s Coe Capital Management and Murray Stahl’s Horizon Asset Management.

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