Nuveen Municipal Income Fund, Inc. (NYSE:NMI) Short Interest Up 181.1% in July

Key Points

• Nuveen Municipal Income Fund (NMI) experienced a dramatic increase in short interest, rising by 181.1% in July to 132,400 shares compared to 47,100 shares in June.
• Institutional investors control 16.57% of NMI, with notable increases in holdings from firms such as OneDigital and 1607 Capital Partners.
• The fund recently declared a monthly dividend of $0.038, representing an annualized yield of 4.6%, paid on August 1st.

Nuveen Municipal Income Fund, Inc. (NYSE:NMI - Get Free Report) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 132,400 shares, anincreaseof181.1% from the June 30th total of 47,100 shares. Based on an average daily trading volume, of 37,500 shares, the short-interest ratio is presently 3.5 days. Based on an average daily trading volume, of 37,500 shares, the short-interest ratio is presently 3.5 days.

Institutional Investors Weigh In On Nuveen Municipal Income Fund

Several institutional investors have recently made changes to their positions in the company. Harbor Investment Advisory LLC acquired a new stake in Nuveen Municipal Income Fund in the second quarter valued at approximately $30,000. South Plains Financial Inc. acquired a new position in Nuveen Municipal Income Fund during the 4th quarter valued at $36,000. EWG Elevate Inc. bought a new stake in shares of Nuveen Municipal Income Fund in the first quarter valued at about $200,000. OneDigital Investment Advisors LLC grew its holdings in shares of Nuveen Municipal Income Fund by 11.9% during the 1st quarter. OneDigital Investment Advisors LLC now owns 25,233 shares of the company's stock worth $248,000 after purchasing an additional 2,684 shares in the last quarter. Finally, 1607 Capital Partners LLC increased its holdings in Nuveen Municipal Income Fund by 19.9% in the 4th quarter. 1607 Capital Partners LLC now owns 288,375 shares of the company's stock valued at $2,714,000 after buying an additional 47,914 shares during the period. 16.57% of the stock is currently owned by institutional investors and hedge funds.

Nuveen Municipal Income Fund Stock Performance

Shares of NMI stock traded down $0.02 on Friday, reaching $9.81. 32,604 shares of the company's stock traded hands, compared to its average volume of 29,963. Nuveen Municipal Income Fund has a 12-month low of $9.21 and a 12-month high of $10.85. The business's 50 day moving average price is $9.92 and its two-hundred day moving average price is $9.82.

Nuveen Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be issued a dividend of $0.038 per share. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, August 15th.

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.