Nuveen Municipal Income Fund (NYSE:NMI) Shares Up 4.6% – Time to Buy?

Shares of Nuveen Municipal Income Fund, Inc. (NYSE:NMI – Get Free Report) were up 4.6% on Tuesday . The company traded as high as $11.00 and last traded at $11.00. Approximately 28,154 shares changed hands during mid-day trading, an increase of 92% from the average session volume of 14,686 shares. The stock had previously closed at $10.52.

Nuveen Municipal Income Fund Stock Performance

The firm has a 50-day moving average price of $10.71 and a two-hundred day moving average price of $10.28.

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Nuveen Municipal Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a $0.038 dividend. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Investors Weigh In On Nuveen Municipal Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. World Investment Advisors bought a new position in Nuveen Municipal Income Fund in the 1st quarter worth about $2,891,000. LPL Financial LLC raised its stake in shares of Nuveen Municipal Income Fund by 10.6% during the fourth quarter. LPL Financial LLC now owns 80,541 shares of the company’s stock valued at $800,000 after acquiring an additional 7,727 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of Nuveen Municipal Income Fund by 74.6% during the second quarter. Osaic Holdings Inc. now owns 35,583 shares of the company’s stock valued at $358,000 after acquiring an additional 15,200 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Nuveen Municipal Income Fund by 8.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 33,081 shares of the company’s stock valued at $328,000 after acquiring an additional 2,665 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Nuveen Municipal Income Fund by 137.8% in the second quarter. Ameriprise Financial Inc. now owns 29,102 shares of the company’s stock valued at $292,000 after purchasing an additional 16,864 shares during the period. Institutional investors own 16.57% of the company’s stock.

About Nuveen Municipal Income Fund

(Get Free Report)

Nuveen Municipal Income Fund (NYSE: NMI) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The fund primarily invests in municipal obligations issued by U.S. states, territories and municipalities, as well as certain municipal securities issued outside the United States. By focusing on a diversified portfolio of investment-grade and select below-investment-grade municipal bonds, NMI aims to deliver tax-advantaged income to its shareholders.

The fund’s portfolio typically includes general obligation bonds, revenue bonds and other municipal securities across a broad range of sectors, including transportation, utilities, health care and education.

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