Northwestern Mutual Wealth Management Co. Purchases New Position in Nuveen Municipal Income Fund, Inc. $NMI

Key Points

• Northwestern Mutual Wealth Management Co. acquired 516,095 shares of Nuveen Municipal Income Fund during the second quarter, worth about $5.46 million and representing approximately 4.27% of the fund.
• NMI shares opened at $10.41, compared with a 52-week range of $9.62 to $11.28; institutional investors collectively own 16.57% of the stock.
• Nuveen Municipal Income Fund declared a monthly dividend of $0.038 per share, implying an annualized yield of about 4.4%, payable September 1 to shareholders of record August 14.

Northwestern Mutual Wealth Management Co. purchased a new stake in Nuveen Municipal Income Fund, Inc. (NYSE:NMI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 516,095 shares of the company's stock, valued at approximately $5,455,000. Northwestern Mutual Wealth Management Co. owned approximately 4.27% of Nuveen Municipal Income Fund as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its holdings 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 worth $328,000 after buying an additional 2,665 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Nuveen Municipal Income Fund in the 4th quarter worth approximately $37,000. N.E.W. Advisory Services LLC bought a new stake in Nuveen Municipal Income Fund during the 2nd quarter worth approximately $63,000. Kestra Advisory Services LLC increased its holdings in Nuveen Municipal Income Fund by 118.6% during 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 in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Nuveen Municipal Income Fund during the 2nd quarter valued at $72,000. 16.57% of the stock is owned by institutional investors.

Nuveen Municipal Income Fund Stock Performance

Shares of NMI opened at $10.41 on Monday. The stock has a fifty day moving average price of $10.78 and a two-hundred day moving average price of $10.50. Nuveen Municipal Income Fund, Inc. has a 52-week low of $9.62 and a 52-week high of $11.28.

Nuveen Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.038 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, August 14th.

Nuveen Municipal Income Fund Company Profile

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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