Short Interest in Nuveen Taxable Municipal Income Fund (NYSE:NBB) Drops By 34.2%

Nuveen Taxable Municipal Income Fund (NYSE:NBB) was the target of a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 43,176 shares, a drop of 34.2% from the April 15th total of 65,591 shares. Based on an average trading volume of 42,417 shares, the days-to-cover ratio is presently 1.0 days.

Nuveen Taxable Municipal Income Fund Trading Up 0.5%

Shares of NYSE:NBB opened at $15.68 on Monday. Nuveen Taxable Municipal Income Fund has a 12-month low of $14.95 and a 12-month high of $16.62. The business’s fifty day simple moving average is $15.75 and its 200-day simple moving average is $15.96.

Nuveen Taxable Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a dividend of $0.0965 per share. This represents a c) annualized dividend and a yield of 7.4%. The ex-dividend date is Friday, May 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. grew its stake in Nuveen Taxable Municipal Income Fund by 33.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,773 shares of the company’s stock worth $75,000 after buying an additional 1,200 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Nuveen Taxable Municipal Income Fund during the 4th quarter worth $81,000. Fifth Third Bancorp purchased a new position in Nuveen Taxable Municipal Income Fund during the 1st quarter worth $82,000. NewEdge Advisors LLC grew its stake in Nuveen Taxable Municipal Income Fund by 12.8% during the 1st quarter. NewEdge Advisors LLC now owns 12,629 shares of the company’s stock worth $202,000 after buying an additional 1,438 shares during the last quarter. Finally, Delta Financial Advisors LLC purchased a new position in Nuveen Taxable Municipal Income Fund during the 3rd quarter worth $224,000.

Nuveen Taxable Municipal Income Fund Company Profile

The Nuveen Taxable Municipal Income Fund (NYSE:NBB) is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax. Established in 2008 and managed by Nuveen Asset Management LLC, the fund primarily invests in investment-grade municipal debt obligations. Its shares are traded on the New York Stock Exchange under the ticker symbol NBB.

NBB’s investment strategy focuses on taxable municipal securities, including pre-refunded and unrated obligations, issued by U.S.