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

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 36,327 shares, a growth of 67.2% from the August 31st total of 21,729 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 29,312 shares, the short-interest ratio is currently 1.2 days.

Institutional Trading of Nuveen Municipal Income Fund

Large investors have recently made changes to their positions in the company. Astoria Portfolio Advisors LLC. purchased a new position in Nuveen Municipal Income Fund during the 4th quarter worth approximately $116,000. Kestra Advisory Services LLC lifted its stake in Nuveen Municipal Income Fund by 118.6% in the first quarter. Kestra Advisory Services LLC now owns 12,024 shares of the company’s stock valued at $126,000 after buying an additional 6,524 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Nuveen Municipal Income Fund by 76.9% in the first quarter. Janney Montgomery Scott LLC now owns 20,783 shares of the company’s stock valued at $217,000 after acquiring an additional 9,035 shares during the period. OneDigital Investment Advisors LLC acquired a new position in shares of Nuveen Municipal Income Fund in the 2nd quarter valued at $409,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in Nuveen Municipal Income Fund by 195.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 209,716 shares of the company’s stock valued at $2,311,000 after purchasing an additional 138,770 shares during the last quarter. 16.57% of the stock is owned by institutional investors and hedge funds.

Nuveen Municipal Income Fund Stock Performance

NMI traded down $0.03 on Wednesday, reaching $9.31. The company’s stock had a trading volume of 27,943 shares, compared to its average volume of 30,366. Nuveen Municipal Income Fund has a fifty-two week low of $9.10 and a fifty-two week high of $11.28. The stock has a 50 day moving average of $10.33 and a two-hundred day moving average of $10.50.

Nuveen Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.0380 dividend. This represents a $0.46 annualized dividend and a yield of 4.9%. The ex-dividend date is Tuesday, September 15th.

Nuveen Municipal Income Fund Company Profile

Nuveen Municipal Income Fund (NYSE:NMI) is a closed-end management investment company advised by Nuveen Asset Management, a subsidiary of Nuveen, the asset-management business of TIAA. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal securities.

The fund invests in debt obligations issued by states, municipalities, and other governmental entities and related authorities across the United States. These securities may help finance public services and infrastructure projects, including transportation, utilities, education, health care, and other community facilities.