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

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 19,041 shares, a drop of 47.6% from the September 15th total of 36,327 shares. Based on an average daily volume of 53,299 shares, the short-interest ratio is presently 0.4 days. Currently, 0.2% of the company’s shares are short sold.

Hedge Funds Weigh In On Nuveen Municipal Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of NMI. Astoria Portfolio Advisors LLC. acquired a new position in shares of Nuveen Municipal Income Fund in the 4th quarter valued at $116,000. Kestra Advisory Services LLC lifted its position in Nuveen Municipal Income Fund by 118.6% during the 1st 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. Janney Montgomery Scott LLC grew its stake 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 last quarter. Avior Wealth Management LLC increased its holdings in shares of Nuveen Municipal Income Fund by 68.7% in the third quarter. Avior Wealth Management LLC now owns 34,360 shares of the company’s stock valued at $321,000 after purchasing an additional 13,990 shares during the period. Finally, OneDigital Investment Advisors LLC purchased a new position in shares of Nuveen Municipal Income Fund in the second quarter worth about $409,000. 16.57% of the stock is owned by hedge funds and other institutional investors.

Nuveen Municipal Income Fund Price Performance

NMI stock traded down $0.05 during mid-day trading on Wednesday, reaching $9.15. The company had a trading volume of 9,739 shares, compared to its average volume of 32,076. The firm has a 50 day moving average of $10.03 and a 200 day moving average of $10.46. Nuveen Municipal Income Fund has a 12 month low of $9.10 and a 12 month high of $11.28.

Nuveen Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be paid a $0.0380 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.46 dividend on an annualized basis and a yield of 5.0%.

Nuveen Municipal Income Fund Company Profile

Nuveen Municipal Income Fund (NYSE: NMI) is a closed-end management investment company designed to provide current income that is exempt from regular federal income tax. The fund invests primarily in municipal securities issued by states, municipalities and other public entities in the United States.

Its portfolio may include general obligation bonds, revenue bonds and other tax-exempt debt instruments used to finance public infrastructure and services. The fund’s investment approach focuses on generating federally tax-exempt income while managing credit, interest-rate and other risks associated with municipal bonds.

Nuveen Municipal Income Fund is advised by Nuveen Asset Management, an investment manager within Nuveen, the asset-management division of TIAA.