Nuveen Multi-Market Income Fund (NYSE:JMM) Sees Significant Growth in Short Interest

Key Points

• Short interest jumped 51.3% to 1,714 shares as of March 31, with a very low days-to-cover ratio of 0.4 days and effectively 0.0% of shares reported short.
• Institutional ownership is high at 67.34%, and several institutions (including Advisors Asset Management, Stratos Wealth, Aviance, Raymond James and Wolverine) recently increased or initiated positions in JMM.
• Nuveen declared a monthly dividend of $0.029 per share payable May 1 (ex‑dividend/record date April 15), implying an annualized yield of about 5.9%.

Nuveen Multi-Market Income Fund (NYSE:JMM - Get Free Report) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totaling 1,714 shares, an increase of 51.3% from the March 15th total of 1,133 shares. Currently, 0.0% of the company's stock are short sold. Based on an average trading volume of 4,800 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. boosted its position in shares of Nuveen Multi-Market Income Fund by 1.2% during the 4th quarter. Advisors Asset Management Inc. now owns 252,369 shares of the company's stock valued at $1,524,000 after acquiring an additional 2,880 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Nuveen Multi-Market Income Fund during the 2nd quarter valued at approximately $30,000. Stratos Wealth Partners LTD. boosted its position in shares of Nuveen Multi-Market Income Fund by 32.7% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 34,843 shares of the company's stock valued at $219,000 after acquiring an additional 8,580 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of Nuveen Multi-Market Income Fund during the 4th quarter valued at approximately $85,000. Finally, Aviance Capital Partners LLC lifted its position in Nuveen Multi-Market Income Fund by 17.3% in the third quarter. Aviance Capital Partners LLC now owns 135,772 shares of the company's stock worth $854,000 after buying an additional 20,053 shares during the last quarter. 67.34% of the stock is currently owned by institutional investors.

Nuveen Multi-Market Income Fund Stock Down 0.5%

NYSE JMM traded down $0.03 on Tuesday, hitting $5.91. 2,894 shares of the company were exchanged, compared to its average volume of 3,786. Nuveen Multi-Market Income Fund has a 12 month low of $5.70 and a 12 month high of $6.52. The stock has a fifty day moving average of $6.02 and a 200-day moving average of $6.10.

Nuveen Multi-Market Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be given a dividend of $0.029 per share. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Wednesday, April 15th.

About Nuveen Multi-Market Income Fund

Nuveen Multi-Market Income Fund NYSE: JMM is a diversified, closed-end management investment company managed by Nuveen, a leading global asset manager and subsidiary of TIAA. The fund seeks to provide high current income with the potential for capital appreciation by investing across multiple asset classes and geographies. Its structure allows investors to access a broad range of income-producing securities through a single vehicle.

JMM's investment strategy emphasizes a multi-sector approach, allocating capital to fixed-income sectors such as investment-grade and high-yield corporate bonds, emerging market debt, mortgage- and asset-backed securities, as well as preferred stocks.

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