Nuveen Municipal Income Fund, Inc. (NYSE:NMI) Sees Large Drop in Short Interest

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 4,700 shares, a drop of 41.3% from the March 31st total of 8,000 shares. Based on an average daily volume of 28,400 shares, the days-to-cover ratio is currently 0.2 days.

Nuveen Municipal Income Fund Stock Up 0.1 %

Shares of NMI stock traded up $0.01 during mid-day trading on Friday, hitting $9.18. 4,802 shares of the stock traded hands, compared to its average volume of 25,823. The company’s 50-day simple moving average is $9.27 and its 200-day simple moving average is $9.08. Nuveen Municipal Income Fund has a twelve month low of $8.30 and a twelve month high of $10.05.

Nuveen Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a $0.036 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.43 annualized dividend and a dividend yield of 4.71%.

Institutional Trading of Nuveen Municipal Income Fund

Institutional investors have recently bought and sold shares of the company. Crestone Asset Management LLC acquired a new stake in Nuveen Municipal Income Fund during the third quarter valued at $91,000. Wolverine Asset Management LLC acquired a new stake in Nuveen Municipal Income Fund during the third quarter valued at $118,000. Fortitude Advisory Group L.L.C. raised its holdings in Nuveen Municipal Income Fund by 9.4% during the fourth quarter. Fortitude Advisory Group L.L.C. now owns 26,920 shares of the company’s stock valued at $248,000 after buying an additional 2,320 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Nuveen Municipal Income Fund by 1.9% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 193,450 shares of the company’s stock valued at $1,664,000 after buying an additional 3,697 shares in the last quarter. Finally, 1607 Capital Partners LLC raised its holdings in Nuveen Municipal Income Fund by 2.2% during the fourth quarter. 1607 Capital Partners LLC now owns 785,667 shares of the company’s stock valued at $7,228,000 after buying an additional 17,254 shares in the last quarter. Institutional investors and hedge funds own 16.57% of the company’s stock.

About Nuveen Municipal Income Fund

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.