Nuveen Municipal Income Fund (NYSE:NMI) Shares Up 4.6% – What’s Next?

Nuveen Municipal Income Fund, Inc. (NYSE:NMI)’s stock price was up 4.6% during trading on Tuesday . The stock traded as high as $11.00 and last traded at $11.00. 28,154 shares changed hands during mid-day trading, an increase of 92% from the average daily volume of 14,686 shares. The stock had previously closed at $10.52.

Nuveen Municipal Income Fund Price Performance

The company’s 50-day moving average price is $10.72 and its two-hundred day moving average price is $10.29.

Nuveen Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.038 per share. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a yield of 4.2%.

Institutional Investors Weigh In On Nuveen Municipal Income Fund

A number of institutional investors have recently modified their holdings of the business. Cetera Investment Advisers acquired a new position in shares of Nuveen Municipal Income Fund in the second quarter valued at about $118,000. Raymond James Financial Inc. bought a new stake in Nuveen Municipal Income Fund in the 2nd quarter valued at about $72,000. Ameriprise Financial Inc. boosted its holdings in Nuveen Municipal Income Fund by 137.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 29,102 shares of the company’s stock valued at $292,000 after purchasing an additional 16,864 shares during the period. Osaic Holdings Inc. boosted its holdings in Nuveen Municipal Income Fund by 74.6% in the 2nd quarter. Osaic Holdings Inc. now owns 35,583 shares of the company’s stock valued at $358,000 after purchasing an additional 15,200 shares during the period. Finally, Truist Financial Corp acquired a new position in shares of Nuveen Municipal Income Fund during the 4th quarter worth approximately $261,000. Institutional investors own 16.57% of the company’s stock.

About Nuveen Municipal Income Fund

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.