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

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 17,600 shares, an increase of 30.4% from the February 28th total of 13,500 shares. Based on an average daily volume of 25,900 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the shares of the stock are sold short.

Nuveen Municipal Income Fund Stock Performance

Shares of NMI traded up $0.01 during trading hours on Tuesday, reaching $9.85. The company had a trading volume of 8,877 shares, compared to its average volume of 26,043. Nuveen Municipal Income Fund has a 12-month low of $9.11 and a 12-month high of $10.30. The firm has a 50 day simple moving average of $9.82 and a 200-day simple moving average of $9.75.

Nuveen Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.038 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.46 dividend on an annualized basis and a yield of 4.63%.

Institutional Investors Weigh In On Nuveen Municipal Income Fund

Institutional investors have recently modified their holdings of the company. South Plains Financial Inc. purchased a new position in Nuveen Municipal Income Fund in the 4th quarter valued at approximately $36,000. WESPAC Advisors LLC acquired a new stake in Nuveen Municipal Income Fund in the fourth quarter valued at $94,000. Janney Montgomery Scott LLC acquired a new stake in Nuveen Municipal Income Fund in the fourth quarter valued at $109,000. Wolverine Asset Management LLC purchased a new position in shares of Nuveen Municipal Income Fund in the fourth quarter valued at $775,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Nuveen Municipal Income Fund by 27.9% during the 4th quarter. Jones Financial Companies Lllp now owns 192,296 shares of the company’s stock worth $1,810,000 after buying an additional 41,907 shares during the last quarter. Hedge funds and other institutional investors own 16.57% of the company’s stock.

About Nuveen Municipal Income Fund

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.