Nuveen Multi-Market Income Fund (NYSE:JMM) Trading Up 0.1% - Time to Buy?

Key Points

• Shares of the Nuveen Multi-Market Income Fund (NYSE:JMM) rose by 0.1% on Monday, trading last at $6.33 with a significant decline in volume of 49% from the average session.
• The fund announced a monthly dividend of $0.029 per share, resulting in an annualized yield of 5.5%, with the dividend set to be paid on September 2nd.
• Institutional ownership of the fund is substantial, with approximately 67.34% of shares held by hedge funds and institutional investors, reflecting increased confidence among several key investors.

Nuveen Multi-Market Income Fund (NYSE:JMM - Get Free Report)'s stock price was up 0.1% during mid-day trading on Monday . The stock traded as high as $6.37 and last traded at $6.33. Approximately 4,379 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 8,533 shares. The stock had previously closed at $6.32.

Nuveen Multi-Market Income Fund Price Performance

The company has a 50-day moving average price of $6.32 and a 200-day moving average price of $6.19.

Nuveen Multi-Market Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a $0.029 dividend. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Friday, August 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in Nuveen Multi-Market Income Fund during the second quarter worth about $30,000. M Holdings Securities Inc. bought a new position in Nuveen Multi-Market Income Fund during the second quarter worth about $230,000. Advisors Asset Management Inc. bought a new position in Nuveen Multi-Market Income Fund during the second quarter worth about $647,000. Aviance Capital Partners LLC lifted its holdings in Nuveen Multi-Market Income Fund by 2.0% during the second quarter. Aviance Capital Partners LLC now owns 115,719 shares of the company's stock worth $727,000 after acquiring an additional 2,299 shares in the last quarter. Finally, Stratos Wealth Partners LTD. lifted its holdings in Nuveen Multi-Market Income Fund by 37.6% during the second quarter. Stratos Wealth Partners LTD. now owns 26,263 shares of the company's stock worth $165,000 after acquiring an additional 7,174 shares in the last quarter. 67.34% of the stock is currently owned by institutional investors.

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.