Nuveen Municipal Income Fund (NYSE:NMI) Trading Down 0.5% – What’s Next?

Shares of Nuveen Municipal Income Fund, Inc. (NYSE:NMI) fell 0.5% during trading on Tuesday . The stock traded as low as $10.77 and last traded at $10.8050. Approximately 8,176 shares traded hands during trading, a decline of 54% from the average session volume of 17,672 shares. The stock had previously closed at $10.86.

Nuveen Municipal Income Fund Trading Down 0.2%

The stock’s 50-day moving average is $10.86 and its 200 day moving average is $10.44.

Nuveen Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.038 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%.

Institutional Trading of Nuveen Municipal Income Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new position in Nuveen Municipal Income Fund in the fourth quarter valued at about $37,000. Raymond James Financial Inc. acquired a new position in Nuveen Municipal Income Fund in the 2nd quarter worth about $72,000. Astoria Portfolio Advisors LLC. purchased a new stake in shares of Nuveen Municipal Income Fund during the 4th quarter worth about $116,000. Cetera Investment Advisers purchased a new stake in shares of Nuveen Municipal Income Fund during the 2nd quarter worth about $118,000. Finally, Kestra Advisory Services LLC lifted its holdings in shares of Nuveen Municipal Income Fund by 118.6% during the 1st quarter. Kestra Advisory Services LLC now owns 12,024 shares of the company’s stock valued at $126,000 after buying an additional 6,524 shares during the last quarter. 16.57% of the stock is currently owned by hedge funds and other institutional investors.

Nuveen Municipal Income Fund Company Profile

Nuveen Municipal Income Fund (NYSE: NMI) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The fund primarily invests in municipal obligations issued by U.S. states, territories and municipalities, as well as certain municipal securities issued outside the United States. By focusing on a diversified portfolio of investment-grade and select below-investment-grade municipal bonds, NMI aims to deliver tax-advantaged income to its shareholders.

The fund’s portfolio typically includes general obligation bonds, revenue bonds and other municipal securities across a broad range of sectors, including transportation, utilities, health care and education.