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Nuveen Municipal Income Fund (NYSE:NMI) Trading 0.3% Higher - Here's Why

Nuveen Municipal Income Fund logo with Finance background

Nuveen Municipal Income Fund, Inc. (NYSE:NMI - Get Free Report)'s stock price rose 0.3% during trading on Monday . The company traded as high as $10.02 and last traded at $10.01. Approximately 24,527 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 26,912 shares. The stock had previously closed at $9.98.

Nuveen Municipal Income Fund Stock Up 5.8%

The stock has a 50 day moving average price of $9.87 and a two-hundred day moving average price of $9.77.

Nuveen Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be paid a dividend of $0.038 per share. The ex-dividend date is Tuesday, July 15th. This represents a $0.46 annualized dividend and a dividend yield of 4.29%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NMI. Harbor Investment Advisory LLC acquired a new stake in shares of Nuveen Municipal Income Fund in the 2nd quarter valued at $30,000. South Plains Financial Inc. bought a new position in Nuveen Municipal Income Fund in the fourth quarter valued at about $36,000. EWG Elevate Inc. acquired a new stake in Nuveen Municipal Income Fund in the first quarter worth about $200,000. OneDigital Investment Advisors LLC raised its holdings in 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 during the last quarter. Finally, 1607 Capital Partners LLC raised its holdings in Nuveen Municipal Income Fund by 19.9% during the 4th quarter. 1607 Capital Partners LLC now owns 288,375 shares of the company's stock worth $2,714,000 after purchasing an additional 47,914 shares during the last quarter. Institutional investors own 16.57% of the company's stock.

About Nuveen Municipal Income Fund

(Get Free Report)

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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