Nuveen Multi-Market Income Fund (NYSE:JMM) Shares Up 0.1% - Still a 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 - ) shares traded up 0.1% during trading on Monday . The company traded as high as $6.37 and last traded at $6.33. 4,379 shares were traded during trading, a decline of 49% from the average session volume of 8,533 shares. The stock had previously closed at $6.32.

Nuveen Multi-Market Income Fund Trading Up 0.1%

The stock has a 50-day simple moving average of $6.31 and a 200 day simple moving average of $6.18.

Nuveen Multi-Market Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a dividend of $0.029 per share. This represents a c) dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Friday, August 15th.

Institutional Trading of Nuveen Multi-Market Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Aviance Capital Partners LLC lifted its position in shares of Nuveen Multi-Market Income Fund by 2.0% in the second quarter. Aviance Capital Partners LLC now owns 115,719 shares of the company's stock valued at $727,000 after acquiring an additional 2,299 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Nuveen Multi-Market Income Fund by 50.4% in the fourth quarter. Wells Fargo & Company MN now owns 10,456 shares of the company's stock valued at $63,000 after acquiring an additional 3,506 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Nuveen Multi-Market Income Fund in the second quarter valued at $30,000. Stratos Wealth Partners LTD. lifted its position in shares of Nuveen Multi-Market Income Fund by 37.6% in the second quarter. Stratos Wealth Partners LTD. now owns 26,263 shares of the company's stock valued at $165,000 after acquiring an additional 7,174 shares in the last quarter. Finally, Sit Investment Associates Inc. lifted its position in shares of Nuveen Multi-Market Income Fund by 0.4% in the first quarter. Sit Investment Associates Inc. now owns 5,596,197 shares of the company's stock valued at $34,808,000 after acquiring an additional 20,914 shares in the last quarter. 67.34% of the stock is currently owned by hedge funds and other institutional investors.

Nuveen Multi-Market Income Fund Company Profile

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.

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