Nuveen Multi-Asset Income Fund (NYSE:NMAI) Trading 0.5% Higher – Should You Buy?

Nuveen Multi-Asset Income Fund (NYSE:NMAI) shares traded up 0.5% on Tuesday . The stock traded as high as $14.38 and last traded at $14.27. 69,302 shares were traded during trading, a decline of 39% from the average session volume of 113,412 shares. The stock had previously closed at $14.20.

Nuveen Multi-Asset Income Fund Trading Up 0.1%

The stock’s 50-day moving average is $14.09 and its two-hundred day moving average is $13.69.

Nuveen Multi-Asset Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.116 per share. This represents a c) annualized dividend and a dividend yield of 9.7%. The ex-dividend date of this dividend is Friday, August 14th.

Hedge Funds Weigh In On Nuveen Multi-Asset Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of NMAI. Pathstone Holdings LLC boosted its position in Nuveen Multi-Asset Income Fund by 60.6% in the third quarter. Pathstone Holdings LLC now owns 1,259,213 shares of the company’s stock worth $16,345,000 after purchasing an additional 475,298 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Nuveen Multi-Asset Income Fund by 200.2% in the 4th quarter. Stifel Financial Corp now owns 201,156 shares of the company’s stock worth $2,623,000 after purchasing an additional 134,154 shares during the period. Bank of America Corp DE bought a new position in shares of Nuveen Multi-Asset Income Fund in the 2nd quarter worth approximately $1,288,000. LPL Financial LLC boosted its holdings in shares of Nuveen Multi-Asset Income Fund by 23.5% in the fourth quarter. LPL Financial LLC now owns 393,127 shares of the company’s stock worth $5,126,000 after buying an additional 74,745 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Nuveen Multi-Asset Income Fund by 189.8% in the first quarter. Royal Bank of Canada now owns 98,778 shares of the company’s stock worth $1,187,000 after buying an additional 64,693 shares during the last quarter.

Nuveen Multi-Asset Income Fund (NYSE: NMAI) is a closed-end investment fund managed by Nuveen, a global asset manager and subsidiary of TIAA. The fund is listed on the New York Stock Exchange and seeks to provide investors with high current income and the potential for capital appreciation. Nuveen Multi-Asset Income Fund employs an actively managed, diversified approach across multiple asset classes, leveraging Nuveen’s extensive research and portfolio management infrastructure.

The fund’s investment strategy centers on allocating assets among a broad range of income-producing instruments.