Neuberger Berman Municipal Fund Inc. (NYSEAMERICAN:NBH – Get Free Report)’s stock price passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $9.43 and traded as high as $9.65. Neuberger Berman Municipal Fund shares last traded at $9.65, with a volume of 81,935 shares trading hands.
Neuberger Berman Municipal Fund Trading Up 2.4%
The company’s 50 day simple moving average is $9.43 and its 200-day simple moving average is $10.10.
Neuberger Berman Municipal Fund Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 30th will be given a dividend of $0.0542 per share. The ex-dividend date is Friday, October 30th. This represents a $0.65 dividend on an annualized basis and a yield of 6.7%.
Hedge Funds Weigh In On Neuberger Berman Municipal Fund
Several institutional investors have recently added to or reduced their stakes in NBH. Bridgewater Advisors Inc. purchased a new position in shares of Neuberger Berman Municipal Fund in the 2nd quarter worth $533,000. Robinson Capital Management LLC boosted its holdings in Neuberger Berman Municipal Fund by 20.5% in the second quarter. Robinson Capital Management LLC now owns 512,302 shares of the company’s stock valued at $5,405,000 after acquiring an additional 87,042 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Neuberger Berman Municipal Fund during the second quarter valued at about $585,000. Bank of America Corp DE purchased a new stake in Neuberger Berman Municipal Fund during the second quarter valued at about $1,764,000. Finally, Cura Wealth Advisors LLC purchased a new stake in Neuberger Berman Municipal Fund during the second quarter valued at about $717,000.
Neuberger Berman Municipal Fund Company Profile
Neuberger Berman Municipal Fund Inc (NYSE American: NBH) is a closed-end management investment company. The fund seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in municipal securities issued by states, cities, counties and other public entities.
The fund’s portfolio may include a range of tax-exempt municipal bonds and related obligations from issuers across the United States. Its investments may be supported by general tax revenues, specific project revenues or other sources of repayment, and are subject to the credit, interest-rate and other risks associated with municipal securities.
NBH is advised by Neuberger Berman Investment Advisers LLC, an affiliate of global asset manager Neuberger Berman.
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