Nuveen Municipal Income Fund, Inc. (NYSE:NMI) Short Interest Down 50.6% in December


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Nuveen Municipal Income Fund, Inc. (NYSE:NMI) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 4,000 shares, a decline of 50.6% from the December 15th total of 8,100 shares. Based on an average daily volume of 13,100 shares, the short-interest ratio is currently 0.3 days.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC bought a new stake in Nuveen Municipal Income Fund in the 2nd quarter valued at about $61,000. DAVENPORT & Co LLC bought a new position in Nuveen Municipal Income Fund during the third quarter worth about $122,000. Stifel Financial Corp purchased a new stake in shares of Nuveen Municipal Income Fund during the 2nd quarter valued at approximately $190,000. Morgan Stanley raised its stake in shares of Nuveen Municipal Income Fund by 6.3% during the 3rd quarter. Morgan Stanley now owns 58,223 shares of the company’s stock valued at $692,000 after purchasing an additional 3,437 shares during the period. Finally, LPL Financial LLC lifted its holdings in Nuveen Municipal Income Fund by 3.1% during the 3rd quarter. LPL Financial LLC now owns 60,955 shares of the company’s stock worth $725,000 after purchasing an additional 1,805 shares in the last quarter. 4.78% of the stock is owned by institutional investors.

NMI traded down $0.01 during mid-day trading on Wednesday, reaching $11.20. 14,131 shares of the stock were exchanged, compared to its average volume of 12,866. Nuveen Municipal Income Fund has a 1 year low of $8.98 and a 1 year high of $12.10. The company has a 50 day moving average price of $11.30 and a two-hundred day moving average price of $11.36.

The business also recently declared a monthly dividend, which will be paid on Monday, February 1st. Investors of record on Friday, January 15th will be issued a $0.033 dividend. The ex-dividend date is Thursday, January 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.54%.

Nuveen Municipal Income Fund Company Profile

Nuveen Municipal Income Fund, Inc is a closed ended fixed income mutual fund launched by Nuveen Investments Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund primarily invests in municipal obligations issued by state and local government authorities.

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