Nuveen Municipal Income Fund (NYSE:NMI) Trading 0.2% Higher – Time to Buy?

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) traded up 0.2% during trading on Tuesday . The stock traded as high as $9.99 and last traded at $9.98. 27,861 shares were traded during mid-day trading, an increase of 4% from the average session volume of 26,740 shares. The stock had previously closed at $9.96.

Nuveen Municipal Income Fund Price Performance

The firm has a 50 day moving average price of $10.00 and a 200 day moving average price of $9.91.

Nuveen Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.038 per share. The ex-dividend date is Friday, November 14th. This represents a c) dividend on an annualized basis and a yield of 4.6%.

Hedge Funds Weigh In On Nuveen Municipal Income Fund

A number of hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp raised its position in shares of Nuveen Municipal Income Fund by 34.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 482,554 shares of the company’s stock valued at $4,777,000 after purchasing an additional 124,941 shares during the period. Guggenheim Capital LLC increased its stake in Nuveen Municipal Income Fund by 19.7% in the 2nd quarter. Guggenheim Capital LLC now owns 254,144 shares of the company’s stock worth $2,554,000 after buying an additional 41,852 shares in the last quarter. Osaic Holdings Inc. increased its stake in Nuveen Municipal Income Fund by 74.6% in the 2nd quarter. Osaic Holdings Inc. now owns 35,583 shares of the company’s stock worth $358,000 after buying an additional 15,200 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Nuveen Municipal Income Fund by 137.8% during the second quarter. Ameriprise Financial Inc. now owns 29,102 shares of the company’s stock valued at $292,000 after acquiring an additional 16,864 shares during the period. Finally, Apollon Financial LLC purchased a new position in shares of Nuveen Municipal Income Fund in the third quarter valued at about $169,000. 16.57% of the stock is currently owned by institutional investors.

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.