Nuveen Multi-Market Income Fund (NYSE:JMM) Trading Up 0.6% Following Dividend Announcement

Key Points

• Nuveen Multi-Market Income Fund (NYSE:JMM) shares rose 0.6% following a dividend announcement, with the last trading price at $6.42.
• The newly declared $0.029 dividend will be issued to investors of record on August 15th, representing an annualized yield of 5.4%.
• Significant institutional activity includes Wells Fargo increasing its holdings by 50.4%, indicating strong investor interest in the fund.

Nuveen Multi-Market Income Fund (NYSE:JMM - Get Free Report) shot up 0.6% during mid-day trading on Monday after the company announced a dividend. The stock traded as high as $6.42 and last traded at $6.42. 4,437 shares traded hands during trading, a decline of 57% from the average session volume of 10,225 shares. The stock had previously closed at $6.38.

The newly announced dividend which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be paid a $0.029 dividend. The ex-dividend date is Friday, August 15th. This represents a c) annualized dividend and a yield of 5.5%.

Nuveen Multi-Market Income Fund Stock Down 1.0%

The firm has a 50 day moving average of $6.28 and a 200 day moving average of $6.16.

Hedge Funds Weigh In On Nuveen Multi-Market Income Fund

Large investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. boosted its stake in 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 worth $34,808,000 after purchasing an additional 20,914 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Nuveen Multi-Market Income Fund in the 1st quarter worth approximately $119,000. 1607 Capital Partners LLC boosted its holdings in Nuveen Multi-Market Income Fund by 1.7% in the 4th quarter. 1607 Capital Partners LLC now owns 524,932 shares of the company's stock valued at $3,176,000 after purchasing an additional 8,850 shares during the period. Aviance Capital Partners LLC increased its holdings in shares of Nuveen Multi-Market Income Fund by 6.4% in 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. Finally, Wells Fargo & Company MN raised 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 worth $63,000 after buying an additional 3,506 shares in the last quarter. 67.34% of the stock is 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.