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

Key Points

• Nuveen Municipal Income Fund (NYSE:NMI) experienced a 32.6% decrease in short interest in August, dropping from 56,200 shares to 37,900 shares.
• The company announced a $0.038 monthly dividend to be paid on October 1st, with an annualized yield of 4.7% for shareholders on record by September 15th.
• Institutional investors and hedge funds collectively own 16.57% of Nuveen Municipal Income Fund's shares, with several firms significantly increasing their holdings in the second quarter.

Nuveen Municipal Income Fund, Inc. (NYSE:NMI - ) saw a large drop in short interest in the month of August. As of August 15th, there was short interest totaling 37,900 shares, adropof32.6% from the July 31st total of 56,200 shares. Based on an average trading volume of 39,100 shares, the short-interest ratio is currently 1.0 days. Based on an average trading volume of 39,100 shares, the short-interest ratio is currently 1.0 days.

Nuveen Municipal Income Fund Stock Up 0.6%

Shares of NMI stock traded up $0.06 during mid-day trading on Friday, hitting $9.72. The stock had a trading volume of 63,838 shares, compared to its average volume of 31,725. Nuveen Municipal Income Fund has a fifty-two week low of $9.21 and a fifty-two week high of $10.85. The company's 50-day simple moving average is $9.87 and its 200-day simple moving average is $9.82.

Nuveen Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid a $0.038 dividend. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, September 15th.

Institutional Trading of Nuveen Municipal Income Fund

Several hedge funds have recently made changes to their positions in the company. Guggenheim Capital LLC increased its holdings in shares of Nuveen Municipal Income Fund by 19.7% in the 2nd quarter. Guggenheim Capital LLC now owns 254,144 shares of the company's stock valued at $2,554,000 after purchasing an additional 41,852 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Nuveen Municipal Income Fund by 74.6% in the 2nd quarter. Osaic Holdings Inc. now owns 35,583 shares of the company's stock valued at $358,000 after purchasing an additional 15,200 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Nuveen Municipal Income Fund by 137.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 29,102 shares of the company's stock valued at $292,000 after purchasing an additional 16,864 shares in the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Nuveen Municipal Income Fund by 11.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 25,233 shares of the company's stock valued at $248,000 after purchasing an additional 2,684 shares in the last quarter. Finally, EWG Elevate Inc. purchased a new position in shares of Nuveen Municipal Income Fund in the 1st quarter valued at about $200,000. Institutional investors and hedge funds 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.

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