Nuveen Municipal Income Fund, Inc. (NYSE:NMI) Sees Significant Decrease in Short Interest

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 13,500 shares, a decline of 41.0% from the February 13th total of 22,900 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 29,400 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Nuveen Municipal Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. South Plains Financial Inc. acquired a new position in shares of Nuveen Municipal Income Fund in the 4th quarter valued at $36,000. WESPAC Advisors LLC acquired a new position in shares of Nuveen Municipal Income Fund in the 4th quarter valued at $94,000. Janney Montgomery Scott LLC acquired a new position in shares of Nuveen Municipal Income Fund in the 4th quarter valued at $109,000. OneDigital Investment Advisors LLC boosted its holdings in shares of Nuveen Municipal Income Fund by 80.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 22,250 shares of the company’s stock valued at $223,000 after purchasing an additional 9,925 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in shares of Nuveen Municipal Income Fund in the 4th quarter valued at $775,000. 16.57% of the stock is owned by hedge funds and other institutional investors.

Nuveen Municipal Income Fund Stock Down 0.4 %

NMI stock traded down $0.04 during midday trading on Friday, hitting $9.79. The stock had a trading volume of 21,065 shares, compared to its average volume of 26,214. Nuveen Municipal Income Fund has a 12-month low of $9.11 and a 12-month high of $10.30. The company’s 50-day moving average price is $9.77 and its 200 day moving average price is $9.78.

Nuveen Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $0.038 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.46 annualized dividend and a yield of 4.66%.

Nuveen Municipal Income Fund Company Profile

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.