Nuveen Municipal Income Fund, Inc. (NYSE:NMI) Sees Large Decrease in Short Interest

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) was the target of a significant decrease in short interest in the month of May. As of May 31st, there was short interest totalling 31,400 shares, a decrease of 48.5% from the May 15th total of 61,000 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily trading volume, of 24,600 shares, the short-interest ratio is currently 1.3 days.

Nuveen Municipal Income Fund Stock Performance

Shares of Nuveen Municipal Income Fund stock traded down $0.14 during trading on Friday, reaching $9.73. 16,988 shares of the stock were exchanged, compared to its average volume of 26,516. The stock’s fifty day moving average is $9.74 and its 200 day moving average is $9.71. Nuveen Municipal Income Fund has a 1 year low of $9.21 and a 1 year high of $10.30.

Nuveen Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.038 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Friday, June 13th.

Institutional Investors Weigh In On Nuveen Municipal Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in NMI. Wolverine Asset Management LLC bought a new stake in shares of Nuveen Municipal Income Fund during the 4th quarter valued at $775,000. WESPAC Advisors LLC bought a new stake in shares of Nuveen Municipal Income Fund during the 4th quarter valued at $94,000. Jones Financial Companies Lllp raised its position in shares of Nuveen Municipal Income Fund by 27.9% during the 4th quarter. Jones Financial Companies Lllp now owns 192,296 shares of the company’s stock valued at $1,810,000 after purchasing an additional 41,907 shares during the period. 1607 Capital Partners LLC raised its position in shares of Nuveen Municipal Income Fund by 19.9% during the 4th quarter. 1607 Capital Partners LLC now owns 288,375 shares of the company’s stock valued at $2,714,000 after purchasing an additional 47,914 shares during the period. Finally, South Plains Financial Inc. bought a new stake in Nuveen Municipal Income Fund in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 16.57% of the company’s stock.

About Nuveen Municipal Income Fund

Nuveen Municipal Income Fund, Inc is a closed ended fixed income mutual fund launched by Nuveen Investments Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund primarily invests in municipal obligations issued by state and local government authorities.