1607 Capital Partners LLC Reduces Stock Position in Nuveen Municipal Income Fund, Inc. $NMI

Key Points

• 1607 Capital Partners LLC reduced its stake in Nuveen Municipal Income Fund by 63.9%, owning approximately 104,147 shares after selling 184,228 shares in the first quarter.
• OneDigital Investment Advisors LLC increased its investment in the fund by 11.9%, now holding 25,233 shares valued at $248,000.
• Nuveen Municipal Income Fund announced a monthly dividend of $0.038, which offers an annualized yield of 4.7% to shareholders.

1607 Capital Partners LLC lessened its stake in Nuveen Municipal Income Fund, Inc. (NYSE:NMI - Free Report) by 63.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 104,147 shares of the company's stock after selling 184,228 shares during the quarter. 1607 Capital Partners LLC owned approximately 1.04% of Nuveen Municipal Income Fund worth $1,025,000 at the end of the most recent quarter.

Separately, EWG Elevate Inc. bought a new stake in shares of Nuveen Municipal Income Fund in the 1st quarter worth approximately $200,000. 16.57% of the stock is currently owned by institutional investors and hedge funds.

Nuveen Municipal Income Fund Trading Up 0.6%

Shares of NYSE:NMI traded up $0.06 during mid-day trading on Friday, reaching $9.72. The company had a trading volume of 63,838 shares, compared to its average volume of 31,725. The company's 50-day moving average price is $9.87 and its 200-day moving average price is $9.82. Nuveen Municipal Income Fund, Inc. has a one year low of $9.21 and a one year high of $10.85.

Nuveen Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be paid a dividend of $0.038 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, September 15th.

Nuveen Municipal Income Fund Company Profile

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.