Nuveen Taxable Municipal Income Fund (NYSE:NBB) Shares Shorted: Short Interest Up 61.6% in September

Nuveen Taxable Municipal Income Fund (NYSE:NBB) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 135,101 shares, a growth of 61.6% from the August 31st total of 83,613 shares. Based on an average trading volume of 74,562 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sit Investment Associates Inc. grew its holdings in shares of Nuveen Taxable Municipal Income Fund by 2.0% during the 4th quarter. Sit Investment Associates Inc. now owns 3,831,416 shares of the company’s stock valued at $60,536,000 after purchasing an additional 76,243 shares during the last quarter. Eagle Bluffs Wealth Management LLC lifted its stake in Nuveen Taxable Municipal Income Fund by 6.6% in the 1st quarter. Eagle Bluffs Wealth Management LLC now owns 891,543 shares of the company’s stock valued at $14,046,000 after purchasing an additional 55,105 shares during the last quarter. LaSalle St. Investment Advisors LLC acquired a new stake in Nuveen Taxable Municipal Income Fund in the second quarter valued at approximately $9,848,000. Bank of America Corp DE acquired a new stake in Nuveen Taxable Municipal Income Fund in the second quarter valued at approximately $8,766,000. Finally, Riverbridge Partners LLC grew its stake in shares of Nuveen Taxable Municipal Income Fund by 4.5% during the first quarter. Riverbridge Partners LLC now owns 140,892 shares of the company’s stock worth $2,206,000 after buying an additional 6,047 shares during the last quarter.

Nuveen Taxable Municipal Income Fund Stock Up 1.4%

NYSE NBB traded up $0.20 on Wednesday, hitting $14.32. 84,927 shares of the company’s stock were exchanged, compared to its average volume of 58,664. The stock has a 50-day moving average of $15.15 and a 200-day moving average of $15.50. Nuveen Taxable Municipal Income Fund has a 52 week low of $13.97 and a 52 week high of $16.62.

Nuveen Taxable Municipal Income Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a $0.0965 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date is Tuesday, September 15th.

About Nuveen Taxable Municipal Income Fund

Nuveen Taxable Municipal Income Fund (NYSE:NBB) is a closed-end investment fund managed by Nuveen Asset Management. The fund seeks to provide current income and, secondarily, capital appreciation by investing primarily in taxable municipal securities issued by state and local governments and related entities.

Its portfolio may include taxable municipal bonds such as Build America Bonds, private activity bonds and other municipal obligations whose interest is generally subject to U.S. federal income tax.