Nuveen Municipal Income Fund, Inc. (NYSE:NMI – Get Free Report) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 19,041 shares, a decrease of 47.6% from the September 15th total of 36,327 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 53,299 shares, the short-interest ratio is currently 0.4 days.
Institutional Trading of Nuveen Municipal Income Fund
A number of large investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. raised its stake in shares of Nuveen Municipal Income Fund by 195.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 209,716 shares of the company’s stock worth $2,311,000 after acquiring an additional 138,770 shares in the last quarter. World Investment Advisors bought a new stake in shares of Nuveen Municipal Income Fund in the first quarter worth about $2,891,000. Avior Wealth Management LLC increased its stake in shares of Nuveen Municipal Income Fund by 68.7% during the third quarter. Avior Wealth Management LLC now owns 34,360 shares of the company’s stock valued at $321,000 after buying an additional 13,990 shares during the period. OneDigital Investment Advisors LLC bought a new stake in shares of Nuveen Municipal Income Fund during the 2nd quarter valued at about $409,000. Finally, Kestra Advisory Services LLC lifted its stake in shares of Nuveen Municipal Income Fund by 118.6% in the 1st quarter. Kestra Advisory Services LLC now owns 12,024 shares of the company’s stock valued at $126,000 after purchasing an additional 6,524 shares during the period. Institutional investors own 16.57% of the company’s stock.
Nuveen Municipal Income Fund Stock Up 1.0%
NYSE:NMI traded up $0.10 during trading on Friday, reaching $9.44. The company’s stock had a trading volume of 57,900 shares, compared to its average volume of 32,779. Nuveen Municipal Income Fund has a 12 month low of $9.10 and a 12 month high of $11.28. The firm has a 50 day moving average of $9.95 and a 200-day moving average of $10.44.
Nuveen Municipal Income Fund Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be issued a dividend of $0.0380 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.46 dividend on an annualized basis and a yield of 4.8%.
Nuveen Municipal Income Fund Company Profile
Nuveen Municipal Income Fund (NYSE: NMI) is a closed-end management investment company designed to provide current income that is exempt from regular federal income tax. The fund invests primarily in municipal securities issued by states, municipalities and other public entities in the United States.
Its portfolio may include general obligation bonds, revenue bonds and other tax-exempt debt instruments used to finance public infrastructure and services. The fund’s investment approach focuses on generating federally tax-exempt income while managing credit, interest-rate and other risks associated with municipal bonds.
Nuveen Municipal Income Fund is advised by Nuveen Asset Management, an investment manager within Nuveen, the asset-management division of TIAA.
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