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

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 - ) was the recipient of a significant increase in short interest during 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 trading volume of 37,500 shares, the days-to-cover ratio is presently 3.5 days. Based on an average trading volume of 37,500 shares, the days-to-cover ratio is presently 3.5 days.

Institutional Trading of Nuveen Municipal Income Fund

A number of large investors have recently added to or reduced their stakes in NMI. OneDigital Investment Advisors LLC raised its position in shares of Nuveen Municipal Income Fund by 11.9% in the first 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 during the period. Harbor Investment Advisory LLC bought a new position in shares of Nuveen Municipal Income Fund in the second quarter valued at about $30,000. South Plains Financial Inc. bought a new position in shares of Nuveen Municipal Income Fund in the fourth quarter valued at about $36,000. EWG Elevate Inc. bought a new position in shares of Nuveen Municipal Income Fund in the first quarter valued at about $200,000. Finally, 1607 Capital Partners LLC raised its position in shares of Nuveen Municipal Income Fund by 19.9% in the fourth quarter. 1607 Capital Partners LLC now owns 288,375 shares of the company's stock valued at $2,714,000 after purchasing an additional 47,914 shares during the period. Institutional investors and hedge funds own 16.57% of the company's stock.

Nuveen Municipal Income Fund Trading Down 0.4%

Shares of NMI stock opened at $9.86 on Monday. The company has a fifty day moving average price of $9.91 and a two-hundred day moving average price of $9.82. Nuveen Municipal Income Fund has a one year low of $9.21 and a one year high of $10.85.

Nuveen Municipal Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th were paid a $0.038 dividend. The ex-dividend date was Tuesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 4.6%.

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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