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

Nuveen Municipal Income Fund, Inc. (NYSE:NMI - Get Free Report) experienced a notable rise in short interest during March. By March 15th, the short interest had reached 17,600 shares, marking an increase of 30.4% from the previous total of 13,500 shares reported on February 28th. Currently, 0.2% of the company's total shares are short sold. With an average daily volume of 25,900 shares, the days-to-cover ratio is now 0.7 days.

Institutional Investors Adjust Their Holdings

Several institutional investors have recently altered their stakes in Nuveen Municipal Income Fund. South Plains Financial Inc. invested in the fund for the first time during the fourth quarter, acquiring shares worth $36,000. Meanwhile, 1607 Capital Partners LLC has increased its position by 19.9% during the same period, now holding 288,375 shares valued at approximately $2,714,000 after adding 47,914 shares. Additionally, Jones Financial Companies Lllp grew its holdings by 27.9%, now owning 192,296 shares valued at roughly $1,810,000 after purchasing an extra 41,907 shares. WESPAC Advisors LLC and Wolverine Asset Management LLC also entered the market, with the latter acquiring a new stake valued at about $775,000. Overall, institutional investors and hedge funds collectively own around 16.57% of the company’s stock.

Price Performance of Nuveen Municipal Income Fund

On Monday, shares of NYSE NMI rose by $0.13, reaching $9.86. The trading volume during this time was 33,116 shares, which is higher than the average volume of 26,113 shares. The stock currently has a fifty-day moving average of $9.82 and a two-hundred day moving average of $9.75. Over the past year, Nuveen Municipal Income Fund has recorded a low of $9.11 and a high of $10.30.

Recent Dividend Declaration

The company has recently announced a monthly dividend, scheduled for payment on April 1st. Shareholders who were on record as of March 14th will receive a dividend of $0.038 per share. The ex-dividend date was also set for March 14th. This dividend translates to an annualized payout of $0.46, resulting in a yield of 4.63%.

Company Overview

Nuveen Municipal Income Fund, Inc. is a closed-end fixed income mutual fund established by Nuveen Investments Inc. The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. Its primary focus is on fixed income investments in the municipal obligations sector, specifically targeting bonds issued by state and local government authorities.

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Nuveen, Income, Fund