Nuveen Multi-Market Income Fund (NYSE:JMM) Trading Down 0.6% - Time to Sell?

Key Points

• Shares of Nuveen Multi-Market Income Fund (NYSE:JMM) decreased by 0.6% to close at $6.34, with trading volume down 56% from the average.
• The fund announced a monthly dividend of $0.029 per share, with an annualized yield of 5.5%, payable on October 1st to investors of record as of September 15th.
• Institutional investors own 67.34% of the stock, with significant recent buy-ups from firms such as Sit Investment Associates and Stratos Wealth Partners.

Nuveen Multi-Market Income Fund (NYSE:JMM - Get Free Report)'s stock price was down 0.6% during mid-day trading on Wednesday . The stock traded as low as $6.35 and last traded at $6.34. Approximately 2,578 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 5,903 shares. The stock had previously closed at $6.38.

Nuveen Multi-Market Income Fund Trading Up 1.9%

The firm has a 50-day moving average of $6.35 and a two-hundred day moving average of $6.21.

Nuveen Multi-Market Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a dividend of $0.029 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a c) dividend on an annualized basis and a yield of 5.4%.

Institutional Investors Weigh In On Nuveen Multi-Market Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aviance Capital Partners LLC increased its stake in Nuveen Multi-Market Income Fund by 6.4% during the first quarter. Aviance Capital Partners LLC now owns 113,420 shares of the company's stock worth $705,000 after purchasing an additional 6,802 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in shares of Nuveen Multi-Market Income Fund in the 1st quarter valued at about $119,000. Sit Investment Associates Inc. boosted its position in shares of Nuveen Multi-Market Income Fund by 0.4% in the 1st quarter. Sit Investment Associates Inc. now owns 5,596,197 shares of the company's stock valued at $34,808,000 after purchasing an additional 20,914 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of Nuveen Multi-Market Income Fund in the 2nd quarter valued at about $647,000. Finally, M Holdings Securities Inc. acquired a new stake in shares of Nuveen Multi-Market Income Fund in the 2nd quarter valued at about $230,000. Hedge funds and other institutional investors own 67.34% of the company's stock.

About Nuveen Multi-Market Income Fund

Nuveen Multi-Market Income Fund 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 seeks to invest in securities of companies operating across diversified sectors.