Nuveen Taxable Municipal Income Fund - NBB Stock Forecast, Price & News

Nuveen Taxable Municipal Income Fund 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 also invests some portion of its portfolio in derivative instruments. It invests in Build America Bonds, i.e. taxable municipal securities. The fund employs fundamental analysis with bottom-up and top-down stock picking approach to create its portfolio. It benchmarks the performance of its portfolio against the Barclays Capital Build America Bond Index. The fund was formerly known as Nuveen Build America Bond Fund. Nuveen Taxable Municipal Income Fund was formed on December 4, 2009 and is domiciled in the United States.

Nuveen Taxable Municipal Income Fund Stock Performance

NYSE:NBB traded up $0.03 during trading hours on Monday, reaching $18.30. The company's stock had a trading volume of 200 shares, compared to its average volume of 98,491. Nuveen Taxable Municipal Income Fund has a 1-year low of $16.33 and a 1-year high of $23.66. The company's 50-day moving average is $17.94 and its two-hundred day moving average is $18.89.

Nuveen Taxable Municipal Income Fund Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 15th will be issued a $0.108 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.30 dividend on an annualized basis and a yield of 7.08%.

Hedge Funds Weigh In On Nuveen Taxable Municipal Income Fund

A number of large investors have recently bought and sold shares of the business. M&T Bank Corp raised its holdings in Nuveen Taxable Municipal Income Fund by 8.3% in the 2nd quarter. M&T Bank Corp now owns 71,812 shares of the company's stock worth $1,280,000 after purchasing an additional 5,526 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Nuveen Taxable Municipal Income Fund by 5.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 12,711 shares of the company's stock worth $226,000 after buying an additional 709 shares in the last quarter. Focused Wealth Management Inc purchased a new stake in Nuveen Taxable Municipal Income Fund during the 2nd quarter worth approximately $44,000. Janney Montgomery Scott LLC purchased a new stake in Nuveen Taxable Municipal Income Fund during the 2nd quarter worth approximately $178,000. Finally, Advisory Services Network LLC increased its stake in Nuveen Taxable Municipal Income Fund by 42.7% during the 2nd quarter. Advisory Services Network LLC now owns 24,850 shares of the company's stock worth $442,000 after buying an additional 7,434 shares in the last quarter.