Nuveen Taxable Municipal Income Fund (NYSE:NBB) Short Interest Up 475.0% in August

Nuveen Taxable Municipal Income Fund (NYSE:NBB) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 67,543 shares, an increase of 475.0% from the July 30th total of 11,746 shares. Based on an average daily volume of 55,248 shares, the days-to-cover ratio is currently 1.2 days.

Nuveen Taxable Municipal Income Fund Stock Performance

NYSE:NBB traded up $0.05 during midday trading on Friday, reaching $15.45. The stock had a trading volume of 6,011 shares, compared to its average volume of 55,646. The firm has a fifty day simple moving average of $15.45 and a two-hundred day simple moving average of $15.69. Nuveen Taxable Municipal Income Fund has a 12-month low of $14.95 and a 12-month high of $16.62.

Nuveen Taxable Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.0965 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 7.5%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. LaSalle St. Investment Advisors LLC acquired a new stake in Nuveen Taxable Municipal Income Fund in the second quarter valued at about $9,848,000. Bank of America Corp DE purchased a new position in shares of Nuveen Taxable Municipal Income Fund during the 2nd quarter worth approximately $8,766,000. Raymond James Financial Inc. raised its stake in shares of Nuveen Taxable Municipal Income Fund by 15.7% during the 3rd quarter. Raymond James Financial Inc. now owns 1,201,681 shares of the company’s stock worth $19,491,000 after buying an additional 162,971 shares in the last quarter. Sit Investment Associates Inc. lifted its holdings in shares of Nuveen Taxable Municipal Income Fund by 2.0% in the 4th quarter. Sit Investment Associates Inc. now owns 3,831,416 shares of the company’s stock valued at $60,536,000 after buying an additional 76,243 shares during the period. Finally, Eagle Bluffs Wealth Management LLC lifted its holdings in shares of 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 buying an additional 55,105 shares during the period.

Nuveen Taxable Municipal Income Fund Company Profile

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.