Nuveen Municipal Income Fund, Inc. (NYSE:NMI) Sees Large Decline in Short Interest

Nuveen Municipal Income Fund, Inc. (NYSE:NMI - Get Free Report) was the recipient of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 31,400 shares, a drop of 48.5% from the May 15th total of 61,000 shares. Based on an average trading volume of 24,600 shares, the short-interest ratio is presently 1.3 days. Approximately 0.3% of the company's shares are sold short.

Nuveen Municipal Income Fund Stock Down 0.1%

Shares of NYSE NMI traded down $0.01 during mid-day trading on Monday, reaching $9.73. 12,113 shares of the company's stock traded hands, compared to its average volume of 23,779. Nuveen Municipal Income Fund has a 1-year low of $9.21 and a 1-year high of $10.30. The business has a 50-day simple moving average of $9.74 and a 200 day simple moving average of $9.71.

Nuveen Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.038 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.69%.

Institutional Investors Weigh In On Nuveen Municipal Income Fund

Institutional investors have recently bought and sold shares of the stock. Wolverine Asset Management LLC bought a new stake in Nuveen Municipal Income Fund in the 4th quarter valued at about $775,000. WESPAC Advisors LLC bought a new position in Nuveen Municipal Income Fund in the fourth quarter valued at $94,000. Jones Financial Companies Lllp lifted its position in Nuveen Municipal Income Fund by 27.9% in the fourth quarter. Jones Financial Companies Lllp now owns 192,296 shares of the company's stock valued at $1,810,000 after purchasing an additional 41,907 shares during the last quarter. 1607 Capital Partners LLC raised its stake in shares of Nuveen Municipal Income Fund by 19.9% during the fourth quarter. 1607 Capital Partners LLC now owns 288,375 shares of the company's stock valued at $2,714,000 after acquiring an additional 47,914 shares during the last quarter. Finally, South Plains Financial Inc. bought a new position in Nuveen Municipal Income Fund in the 4th quarter worth $36,000. Institutional investors own 16.57% of the company's stock.

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.