Neuberger Berman Municipal Fund Inc. (NYSEAMERICAN:NBH) Sees Large Drop in Short Interest

Neuberger Berman Municipal Fund Inc. (NYSEAMERICAN:NBH) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 14,700 shares, a drop of 21.4% from the May 31st total of 18,700 shares. Based on an average trading volume of 75,900 shares, the days-to-cover ratio is currently 0.2 days.

Neuberger Berman Municipal Fund Trading Up 0.5 %

Shares of NBH traded up $0.06 during trading hours on Friday, reaching $10.68. 85,407 shares of the company’s stock traded hands, compared to its average volume of 76,367. Neuberger Berman Municipal Fund has a 12 month low of $8.75 and a 12 month high of $10.70.

Neuberger Berman Municipal Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.0377 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.45 dividend on an annualized basis and a yield of 4.24%.

Institutional Trading of Neuberger Berman Municipal Fund

Hedge funds have recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new stake in Neuberger Berman Municipal Fund in the 1st quarter worth approximately $52,000. Kingswood Wealth Advisors LLC purchased a new position in Neuberger Berman Municipal Fund in the 4th quarter worth approximately $140,000. Private Advisor Group LLC purchased a new position in Neuberger Berman Municipal Fund in the 4th quarter worth approximately $141,000. Blue Bell Private Wealth Management LLC increased its stake in Neuberger Berman Municipal Fund by 39.3% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 19,127 shares of the company’s stock worth $200,000 after purchasing an additional 5,400 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Neuberger Berman Municipal Fund by 947.2% in the 4th quarter. International Assets Investment Management LLC now owns 20,943 shares of the company’s stock worth $2,023,000 after purchasing an additional 18,943 shares during the period.

About Neuberger Berman Municipal Fund

Neuberger Berman Intermediate Municipal Fund Inc is a closed-ended fixed income mutual fund launched and managed by Neuberger Berman LLC. The fund is co-managed by Neuberger Berman Management LLC. It invests in the fixed income markets of the United States. The fund primarily invests in municipal bonds which have income that is exempt from federal income tax and have remaining maturities of less than 15 years.