Short Interest in Nuveen Multi-Market Income Fund (NYSE:JMM) Expands By 93.2%

Key Points

• Short interest nearly doubled to 15,843 shares as of August 31, up 93.2% from mid-August. Short interest represents 0.2% of shares outstanding, with a days-to-cover ratio of 1.5.
• Institutional investors and hedge funds own 67.34% of JMM. Sit Investment Associates increased its position by 1.7%, while Susquehanna International Group raised its stake by 16.2%.
• JMM recently traded at $5.58, near its 12-month low of $5.55, and declared a monthly dividend of $0.029 per share, representing an annualized yield of approximately 6.2%.

Nuveen Multi-Market Income Fund (NYSE:JMM - Get Free Report) saw a significant increase in short interest in August. As of August 31st, there was short interest totaling 15,843 shares, an increase of 93.2% from the August 15th total of 8,202 shares. Currently, 0.2% of the company's stock are short sold. Based on an average daily volume of 10,368 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Trading of Nuveen Multi-Market Income Fund

Several large investors have recently bought and sold shares of the company. Sit Investment Associates Inc. lifted its position in shares of Nuveen Multi-Market Income Fund by 1.7% during the fourth quarter. Sit Investment Associates Inc. now owns 5,731,653 shares of the company's stock worth $34,619,000 after purchasing an additional 96,877 shares in the last quarter. Susquehanna International Group LLP boosted its stake in shares of Nuveen Multi-Market Income Fund by 16.2% in the second quarter. Susquehanna International Group LLP now owns 28,650 shares of the company's stock valued at $168,000 after purchasing an additional 3,987 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in Nuveen Multi-Market Income Fund during the 1st quarter valued at $28,000. Institutional investors and hedge funds own 67.34% of the company's stock.

Nuveen Multi-Market Income Fund Price Performance

Shares of NYSE JMM traded down $0.01 on Tuesday, hitting $5.58. The company had a trading volume of 12,768 shares, compared to its average volume of 8,721. Nuveen Multi-Market Income Fund has a 12-month low of $5.55 and a 12-month high of $6.45. The business has a 50 day moving average of $5.79 and a two-hundred day moving average of $5.84.

Nuveen Multi-Market Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a dividend of $0.029 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 6.2%.

About Nuveen Multi-Market Income Fund

Nuveen Multi-Market Income Fund NYSE: JMM is a diversified, closed-end management investment company managed by Nuveen, a leading global asset manager and subsidiary of TIAA. The fund seeks to provide high current income with the potential for capital appreciation by investing across multiple asset classes and geographies. Its structure allows investors to access a broad range of income-producing securities through a single vehicle.

JMM's investment strategy emphasizes a multi-sector approach, allocating capital to fixed-income sectors such as investment-grade and high-yield corporate bonds, emerging market debt, mortgage- and asset-backed securities, as well as preferred stocks.

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