Nuveen Municipal Income Fund, Inc. (NYSE:NMI) to Issue Monthly Dividend of $0.04

Key Points

• Nuveen Municipal Income Fund, Inc. announced a monthly dividend of $0.04 per share, payable on October 1st to investors of record as of September 15th, reflecting an annualized yield of 4.7%.
• The company's stock increased by 0.2%, trading at $9.66 with notable trading volume, and showing a twelve-month range between a low of $9.21 and a high of $10.85.
• Recent institutional investment activity includes Guggenheim Capital and Ameriprise Financial significantly increasing their holdings in the fund, with 16.57% of the stock now owned by institutional investors.

Nuveen Municipal Income Fund, Inc. (NYSE:NMI - Get Free Report) announced a monthly dividend on Wednesday, September 3rd, Wall Street Journal reports. Investors of record on Monday, September 15th will be given a dividend of 0.038 per share on Wednesday, October 1st. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, September 15th.

Nuveen Municipal Income Fund Stock Up 0.2%

NYSE:NMI traded up $0.02 during mid-day trading on Wednesday, reaching $9.66. The company's stock had a trading volume of 69,481 shares, compared to its average volume of 30,247. The company's fifty day simple moving average is $9.89 and its two-hundred day simple moving average is $9.82. Nuveen Municipal Income Fund has a twelve month low of $9.21 and a twelve month high of $10.85.

Hedge Funds Weigh In On Nuveen Municipal Income Fund

A number of institutional investors have recently made changes to their positions in the business. Guggenheim Capital LLC raised its position 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. Ameriprise Financial Inc. raised its position 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 raised its position 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. EWG Elevate Inc. acquired a new position in shares of Nuveen Municipal Income Fund in the 1st quarter valued at approximately $200,000. Finally, Cetera Investment Advisers acquired a new position in shares of Nuveen Municipal Income Fund in the 2nd quarter valued at approximately $118,000. 16.57% of the stock is owned by institutional investors and hedge funds.

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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