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

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 13,500 shares, a decline of 41.0% from the February 13th total of 22,900 shares. Based on an average trading volume of 29,400 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Nuveen Municipal Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NMI. Wolverine Asset Management LLC purchased a new stake in Nuveen Municipal Income Fund during the 4th quarter worth $775,000. 1607 Capital Partners LLC increased its stake in Nuveen Municipal Income Fund by 19.9% during the 4th quarter. 1607 Capital Partners LLC now owns 288,375 shares of the company’s stock worth $2,714,000 after buying an additional 47,914 shares during the period. Jones Financial Companies Lllp increased its stake in 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 period. Janney Montgomery Scott LLC purchased a new stake in Nuveen Municipal Income Fund during the 4th quarter worth $109,000. Finally, WESPAC Advisors LLC purchased a new stake in Nuveen Municipal Income Fund during the 4th quarter worth $94,000. Hedge funds and other institutional investors own 16.57% of the company’s stock.

Nuveen Municipal Income Fund Stock Performance

Shares of NYSE:NMI traded down $0.04 during midday trading on Friday, hitting $9.79. 21,065 shares of the company’s stock traded hands, compared to its average volume of 26,214. The firm’s fifty day moving average price is $9.77 and its two-hundred day moving average price is $9.78. Nuveen Municipal Income Fund has a twelve month low of $9.11 and a twelve month high of $10.30.

Nuveen Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.038 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.46 annualized dividend and a dividend yield of 4.66%.

Nuveen Municipal Income Fund Company Profile

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.