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

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 10,500 shares, a growth of 275.0% from the August 15th total of 2,800 shares. Based on an average daily volume of 14,500 shares, the days-to-cover ratio is presently 0.7 days.

Several large investors have recently added to or reduced their stakes in NMI. Mutual Advisors LLC acquired a new stake in shares of Nuveen Municipal Income Fund in the second quarter worth $130,000. Kestra Advisory Services LLC boosted its holdings in Nuveen Municipal Income Fund by 7.5% during the first quarter. Kestra Advisory Services LLC now owns 14,582 shares of the company’s stock worth $167,000 after buying an additional 1,012 shares in the last quarter. Bank of America Corp DE boosted its holdings in Nuveen Municipal Income Fund by 40.9% during the second quarter. Bank of America Corp DE now owns 18,927 shares of the company’s stock worth $224,000 after buying an additional 5,495 shares in the last quarter. Resources Investment Advisors LLC. purchased a new stake in Nuveen Municipal Income Fund during the first quarter worth $231,000. Finally, Wakefield Asset Management LLLP boosted its holdings in Nuveen Municipal Income Fund by 6.4% during the first quarter. Wakefield Asset Management LLLP now owns 44,163 shares of the company’s stock worth $505,000 after buying an additional 2,658 shares in the last quarter. Hedge funds and other institutional investors own 6.99% of the company’s stock.

Nuveen Municipal Income Fund stock traded up $0.01 during mid-day trading on Wednesday, reaching $11.88. 2,798 shares of the company traded hands, compared to its average volume of 15,442. Nuveen Municipal Income Fund has a fifty-two week low of $11.00 and a fifty-two week high of $12.20. The firm’s fifty day moving average is $11.88 and its two-hundred day moving average is $11.66.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 15th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.03%.

Nuveen Municipal Income Fund Company Profile

Nuveen Municipal Income Fund is a closed-end investment fund/investment trust. The fund’s objective is a high level of current income exempt from federal income tax. The company was founded on April 20, 1988 and is headquartered in Chicago, IL.

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