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

Key Points

• Nuveen Multi-Market Income Fund (NYSE:JMM) saw a slight stock price increase of 0.1%, closing at $6.32, with trading volume down by 5% from its average.
• The fund announced a monthly dividend of $0.029 per share, with an ex-dividend date set for October 15th, resulting in a dividend yield of 5.5%.
• Recent institutional activity includes multiple hedge funds acquiring stakes in the fund, with 67.34% of the stock now owned by institutional investors, indicating growing confidence in its performance.

Shares of Nuveen Multi-Market Income Fund (NYSE:JMM - ) rose 0.1% on Thursday . The company traded as high as $6.33 and last traded at $6.32. Approximately 8,073 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 8,504 shares. The stock had previously closed at $6.31.

Nuveen Multi-Market Income Fund Stock Performance

The company has a 50 day moving average price of $6.35 and a 200 day moving average price of $6.23.

Nuveen Multi-Market Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.029 per share. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Wednesday, October 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Nuveen Multi-Market Income Fund during the 2nd quarter worth approximately $30,000. Stratos Wealth Partners LTD. acquired a new stake in Nuveen Multi-Market Income Fund during the 1st quarter worth approximately $119,000. M Holdings Securities Inc. acquired a new stake in Nuveen Multi-Market Income Fund during the 2nd quarter worth approximately $230,000. Advisors Asset Management Inc. acquired a new stake in Nuveen Multi-Market Income Fund during the 2nd quarter worth approximately $647,000. Finally, Aviance Capital Partners LLC lifted its holdings in Nuveen Multi-Market Income Fund by 6.4% during the 1st 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 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.

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