Nuveen Taxable Municipal Income Fund (NYSE:NBB) Sees Significant Growth in Short Interest

Nuveen Taxable Municipal Income Fund (NYSE:NBB) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 104,031 shares, a growth of 140.9% from the April 30th total of 43,176 shares. Based on an average daily volume of 48,566 shares, the days-to-cover ratio is presently 2.1 days.

Nuveen Taxable Municipal Income Fund Trading Up 1.0%

Shares of NYSE NBB traded up $0.15 during mid-day trading on Friday, hitting $15.88. The company had a trading volume of 57,939 shares, compared to its average volume of 56,822. Nuveen Taxable Municipal Income Fund has a 12 month low of $14.95 and a 12 month high of $16.62. The firm’s 50 day simple moving average is $15.73 and its two-hundred day simple moving average is $15.91.

Nuveen Taxable Municipal Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a $0.0965 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Friday, May 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. increased its stake in shares of Nuveen Taxable Municipal Income Fund by 15.7% in the third quarter. Raymond James Financial Inc. now owns 1,201,681 shares of the company’s stock valued at $19,491,000 after purchasing an additional 162,971 shares during the period. Riverbridge Partners LLC grew its holdings in Nuveen Taxable Municipal Income Fund by 157.1% in the 4th quarter. Riverbridge Partners LLC now owns 134,845 shares of the company’s stock worth $2,131,000 after buying an additional 82,393 shares in the last quarter. Sit Investment Associates Inc. grew its holdings in 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 worth $60,536,000 after buying an additional 76,243 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its position in Nuveen Taxable Municipal Income Fund by 9.2% in the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 815,129 shares of the company’s stock valued at $13,297,000 after acquiring an additional 68,343 shares during the period. Finally, M&T Bank Corp raised its stake in Nuveen Taxable Municipal Income Fund by 4.5% during the 3rd quarter. M&T Bank Corp now owns 535,240 shares of the company’s stock valued at $8,681,000 after acquiring an additional 23,010 shares in the last quarter.

About Nuveen Taxable Municipal Income Fund

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.