Nuveen Municipal Income Fund, Inc. (NYSE:NMI - Get Free Report) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totalling 61,000 shares, an increase of 48.1% from the April 30th total of 41,200 shares. Approximately 0.6% of the company's stock are sold short. Based on an average daily volume of 23,700 shares, the short-interest ratio is presently 2.6 days.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in NMI. Wolverine Asset Management LLC acquired a new position in shares of Nuveen Municipal Income Fund during the fourth quarter valued at about $775,000. 1607 Capital Partners LLC grew its position in shares of 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 valued at $2,714,000 after acquiring an additional 47,914 shares during the period. Jones Financial Companies Lllp grew its position in shares of Nuveen Municipal Income Fund by 27.9% during the 4th quarter. Jones Financial Companies Lllp now owns 192,296 shares of the company's stock valued at $1,810,000 after acquiring an additional 41,907 shares during the period. EWG Elevate Inc. bought a new position in shares of Nuveen Municipal Income Fund during the 1st quarter valued at approximately $200,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Nuveen Municipal Income Fund during the 4th quarter valued at approximately $109,000. 16.57% of the stock is currently owned by institutional investors and hedge funds.
Nuveen Municipal Income Fund Trading Up 0.4%
NMI traded up $0.04 during midday trading on Thursday, hitting $9.82. The company had a trading volume of 10,259 shares, compared to its average volume of 26,590. Nuveen Municipal Income Fund has a 52 week low of $9.21 and a 52 week high of $10.30. The stock's 50 day moving average price is $9.73 and its 200 day moving average price is $9.70.
Nuveen Municipal Income Fund Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.038 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Friday, June 13th.
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.
Further Reading
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