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

Key Points

• Nuveen Municipal Income Fund (NYSE:NMI) experienced a significant 64.1% increase in short interest in September, rising from 9,200 to 15,100 shares.
• The fund recently announced a monthly dividend of $0.038 per share, with an ex-dividend date of October 15th and a dividend yield of 4.6%.
• Institutional investors are becoming increasingly involved, with several adding positions in the fund during the second and third quarters, showing a growing confidence in its performance.

Nuveen Municipal Income Fund, Inc. (NYSE:NMI - ) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 15,100 shares, an increase of 64.1% from the September 15th total of 9,200 shares. Based on an average daily volume of 39,800 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 39,800 shares, the short-interest ratio is currently 0.4 days.

Nuveen Municipal Income Fund Stock Performance

NYSE NMI traded down $0.01 during trading hours on Wednesday, hitting $10.01. 11,324 shares of the company's stock were exchanged, compared to its average volume of 20,352. The business's 50 day moving average is $9.87 and its 200-day moving average is $9.84. 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 Monday, November 3rd. Investors of record on Wednesday, October 15th will be given a $0.038 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 4.6%.

Institutional Investors Weigh In On Nuveen Municipal Income Fund

A number of institutional investors have recently bought and sold shares of NMI. Harbor Investment Advisory LLC purchased a new position in Nuveen Municipal Income Fund during the second quarter worth approximately $30,000. Raymond James Financial Inc. acquired a new stake in shares of Nuveen Municipal Income Fund during the 2nd quarter worth $72,000. Cetera Investment Advisers purchased a new position in shares of Nuveen Municipal Income Fund in the 2nd quarter worth $118,000. Apollon Financial LLC acquired a new position in Nuveen Municipal Income Fund in the third quarter valued at $169,000. Finally, OneDigital Investment Advisors LLC grew its position in Nuveen Municipal Income Fund by 11.9% during the first quarter. OneDigital Investment Advisors LLC now owns 25,233 shares of the company's stock valued at $248,000 after acquiring an additional 2,684 shares during the period. 16.57% of the stock is currently owned by hedge funds and other institutional investors.

About Nuveen Municipal Income Fund

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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