Nuveen Municipal Income Fund (NYSE:NMI) Stock Price Up 4.6% – What’s Next?

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) shares were up 4.6% during trading on Tuesday . The stock traded as high as $11.00 and last traded at $11.00. Approximately 28,154 shares traded hands during trading, an increase of 92% from the average session volume of 14,686 shares. The stock had previously closed at $10.52.

Nuveen Municipal Income Fund Trading Up 4.6%

The stock has a 50-day simple moving average of $10.71 and a two-hundred day simple moving average of $10.28.

Nuveen Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a dividend of $0.038 per share. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 4.1%.

Institutional Trading of Nuveen Municipal Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. 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 worth $126,000 after acquiring an additional 6,524 shares during the period. World Investment Advisors purchased a new position in Nuveen Municipal Income Fund during the 1st quarter valued at about $2,891,000. Janney Montgomery Scott LLC increased its position in Nuveen Municipal Income Fund by 76.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 20,783 shares of the company’s stock valued at $217,000 after purchasing an additional 9,035 shares during the period. Astoria Portfolio Advisors LLC. bought a new stake in shares of Nuveen Municipal Income Fund in the 4th quarter valued at about $116,000. Finally, &PARTNERS bought a new stake in shares of Nuveen Municipal Income Fund in the 4th quarter valued at about $137,000. 16.57% of the stock is currently owned by institutional investors.

About Nuveen Municipal Income Fund

Nuveen Municipal Income Fund (NYSE: NMI) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The fund primarily invests in municipal obligations issued by U.S. states, territories and municipalities, as well as certain municipal securities issued outside the United States. By focusing on a diversified portfolio of investment-grade and select below-investment-grade municipal bonds, NMI aims to deliver tax-advantaged income to its shareholders.

The fund’s portfolio typically includes general obligation bonds, revenue bonds and other municipal securities across a broad range of sectors, including transportation, utilities, health care and education.