Nuveen Municipal Income Fund (NYSE:NMI) Shares Up 0.4% - Should You Buy?

Key Points

• Nuveen Municipal Income Fund (NYSE:NMI) shares increased by 0.4% during trading, reaching a last price of $10.03, with a notable trading volume increase of 30%.
• The firm announced a monthly dividend of $0.038 per share, with an annualized yield of 4.5%, scheduled to be paid on November 3rd.
• Several institutional investors, including Guggenheim and Ameriprise Financial, have significantly increased their positions in Nuveen Municipal Income Fund, reflecting strong institutional interest.

Nuveen Municipal Income Fund, Inc. (NYSE:NMI - ) shares rose 0.4% during trading on Tuesday . The stock traded as high as $10.29 and last traded at $10.03. Approximately 27,552 shares changed hands during trading, an increase of 30% from the average daily volume of 21,118 shares. The stock had previously closed at $9.99.

Nuveen Municipal Income Fund Stock Up 0.4%

The company has a 50 day moving average price of $9.83 and a 200-day moving average price of $9.83.

Nuveen Municipal Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be paid a $0.038 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) annualized dividend and a yield of 4.5%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Guggenheim Capital LLC increased its position in Nuveen Municipal Income Fund by 19.7% during the 2nd quarter. Guggenheim Capital LLC now owns 254,144 shares of the company's stock worth $2,554,000 after purchasing an additional 41,852 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Nuveen Municipal Income Fund by 74.6% during the second quarter. Osaic Holdings Inc. now owns 35,583 shares of the company's stock worth $358,000 after buying an additional 15,200 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Nuveen Municipal Income Fund by 137.8% during the second quarter. Ameriprise Financial Inc. now owns 29,102 shares of the company's stock worth $292,000 after buying an additional 16,864 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of 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 worth $248,000 after buying an additional 2,684 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of Nuveen Municipal Income Fund during the 2nd quarter valued at $118,000. Institutional investors own 16.57% of the company's stock.

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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