Nuveen Municipal Income Fund, Inc. (NYSE:NMI) Short Interest Update

Key Points

• Nuveen Municipal Income Fund, Inc. (NYSE:NMI) experienced a significant 57.6% decline in short interest during July, dropping from 132,400 shares to 56,200 shares.
• The fund announced a monthly dividend of $0.038, with the payment date set for September 2nd, leading to a dividend yield of 4.7%.
• Institutional investors now own 16.57% of Nuveen Municipal Income Fund, with several hedge funds increasing or initiating positions in the company recently.

Nuveen Municipal Income Fund, Inc. (NYSE:NMI - Get Free Report) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 56,200 shares, adeclineof57.6% from the July 15th total of 132,400 shares. Based on an average daily volume of 38,800 shares, the short-interest ratio is presently 1.4 days. Approximately0.6% of the shares of the company are short sold. Approximately0.6% of the shares of the company are short sold. Based on an average daily volume of 38,800 shares, the short-interest ratio is presently 1.4 days.

Hedge Funds Weigh In On Nuveen Municipal Income Fund

Large investors have recently bought and sold shares of the stock. Harbor Investment Advisory LLC bought a new stake in shares of Nuveen Municipal Income Fund in the second quarter valued at about $30,000. South Plains Financial Inc. acquired a new position in Nuveen Municipal Income Fund in the 4th quarter valued at approximately $36,000. Raymond James Financial Inc. acquired a new position in Nuveen Municipal Income Fund in the 2nd quarter valued at approximately $72,000. Cetera Investment Advisers bought a new stake in shares of Nuveen Municipal Income Fund in the 2nd quarter worth approximately $118,000. Finally, EWG Elevate Inc. bought a new stake in shares of Nuveen Municipal Income Fund in the 1st quarter worth approximately $200,000. 16.57% of the stock is currently owned by institutional investors and hedge funds.

Nuveen Municipal Income Fund Price Performance

NYSE:NMI traded up $0.0550 during mid-day trading on Friday, hitting $9.7850. 46,715 shares of the company's stock traded hands, compared to its average volume of 30,019. The firm has a 50 day moving average of $9.91 and a two-hundred day moving average of $9.83. Nuveen Municipal Income Fund has a 12 month low of $9.21 and a 12 month high of $10.85.

Nuveen Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be given a dividend of $0.038 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a c) dividend on an annualized basis and a yield of 4.7%.

Nuveen Municipal Income Fund Company Profile

Nuveen Municipal Income Fund, Inc 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 primarily invests in municipal obligations issued by state and local government authorities.