Short Interest in Nuveen Taxable Municipal Income Fund (NYSE:NBB) Decreases By 34.2%

Nuveen Taxable Municipal Income Fund (NYSE:NBB) was the target of a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 43,176 shares, a decline of 34.2% from the April 15th total of 65,591 shares. Based on an average daily volume of 42,417 shares, the days-to-cover ratio is presently 1.0 days.

Hedge Funds Weigh In On Nuveen Taxable Municipal Income Fund

Institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Nuveen Taxable Municipal Income Fund by 33.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,773 shares of the company’s stock worth $75,000 after purchasing an additional 1,200 shares during the period. International Assets Investment Management LLC purchased a new stake in Nuveen Taxable Municipal Income Fund in the 4th quarter worth approximately $81,000. Fifth Third Bancorp purchased a new stake in Nuveen Taxable Municipal Income Fund in the 1st quarter worth approximately $82,000. NewEdge Advisors LLC increased its holdings in Nuveen Taxable Municipal Income Fund by 12.8% in the 1st quarter. NewEdge Advisors LLC now owns 12,629 shares of the company’s stock worth $202,000 after acquiring an additional 1,438 shares in the last quarter. Finally, Delta Financial Advisors LLC purchased a new stake in Nuveen Taxable Municipal Income Fund in the 3rd quarter worth approximately $224,000.

Nuveen Taxable Municipal Income Fund Stock Performance

Shares of NYSE NBB traded up $0.00 during trading on Tuesday, reaching $15.51. 14,096 shares of the company traded hands, compared to its average volume of 56,630. The firm has a 50 day simple moving average of $15.73 and a 200-day simple moving average of $15.95. Nuveen Taxable Municipal Income Fund has a 52-week low of $14.95 and a 52-week high of $16.62.

Nuveen Taxable Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a $0.0965 dividend. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Friday, May 15th.

About Nuveen Taxable Municipal Income Fund

The Nuveen Taxable Municipal Income Fund (NYSE:NBB) is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax. Established in 2008 and managed by Nuveen Asset Management LLC, the fund primarily invests in investment-grade municipal debt obligations. Its shares are traded on the New York Stock Exchange under the ticker symbol NBB.

NBB’s investment strategy focuses on taxable municipal securities, including pre-refunded and unrated obligations, issued by U.S.