Nuveen Taxable Municipal Income Fund (NYSE:NBB) Sees Large Decrease in Short Interest

Nuveen Taxable Municipal Income Fund (NYSE:NBB) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 11,746 shares, a drop of 42.6% from the July 15th total of 20,478 shares. Based on an average daily volume of 45,456 shares, the short-interest ratio is presently 0.3 days.

Nuveen Taxable Municipal Income Fund Stock Down 0.1%

Shares of NBB traded down $0.01 during trading hours on Tuesday, reaching $15.31. 86,959 shares of the company traded hands, compared to its average volume of 55,643. Nuveen Taxable Municipal Income Fund has a 12-month low of $14.95 and a 12-month high of $16.62. The stock’s fifty day moving average price is $15.49 and its 200 day moving average price is $15.72.

Nuveen Taxable Municipal Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.0965 per share. This represents a c) annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Friday, August 14th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NBB. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Nuveen Taxable Municipal Income Fund during the second quarter valued at $56,000. International Assets Investment Management LLC bought a new stake in shares of Nuveen Taxable Municipal Income Fund in the 4th quarter valued at about $81,000. Fifth Third Bancorp bought a new stake in shares of Nuveen Taxable Municipal Income Fund in the 1st quarter valued at about $82,000. Caitlin John LLC purchased a new stake in shares of Nuveen Taxable Municipal Income Fund in the 2nd quarter worth approximately $118,000. Finally, Mystic Asset Management Inc. purchased a new stake in shares of Nuveen Taxable Municipal Income Fund in the 2nd quarter worth approximately $158,000.

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.