Nuveen Municipal Income Fund, Inc. (NYSE:NMI - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 17,600 shares, a growth of 30.4% from the February 28th total of 13,500 shares. Based on an average daily volume of 25,900 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.2% of the shares of the company are short sold.
Nuveen Municipal Income Fund Stock Performance
NYSE:NMI traded down $0.01 during midday trading on Friday, reaching $9.86. The stock had a trading volume of 8,281 shares, compared to its average volume of 25,927. The firm has a fifty day simple moving average of $9.83 and a two-hundred day simple moving average of $9.75. Nuveen Municipal Income Fund has a 12-month low of $9.11 and a 12-month high of $10.30.
Nuveen Municipal Income Fund Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.038 dividend. This represents a $0.46 annualized dividend and a dividend yield of 4.62%. The ex-dividend date of this dividend is Tuesday, April 15th.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. South Plains Financial Inc. purchased a new stake in Nuveen Municipal Income Fund in the 4th quarter valued at approximately $36,000. WESPAC Advisors LLC purchased a new stake in shares of Nuveen Municipal Income Fund in the fourth quarter valued at approximately $94,000. Janney Montgomery Scott LLC purchased a new stake in shares of Nuveen Municipal Income Fund in the fourth quarter valued at approximately $109,000. Jones Financial Companies Lllp grew its holdings in Nuveen Municipal Income Fund by 27.9% during the fourth quarter. Jones Financial Companies Lllp now owns 192,296 shares of the company's stock worth $1,810,000 after acquiring an additional 41,907 shares during the period. Finally, 1607 Capital Partners LLC raised its position in Nuveen Municipal Income Fund by 19.9% in the fourth quarter. 1607 Capital Partners LLC now owns 288,375 shares of the company's stock worth $2,714,000 after acquiring an additional 47,914 shares in the last quarter. 16.57% of the stock is currently owned by institutional investors and hedge funds.
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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