Nuveen Taxable Municipal Income Fund (NYSE:NBB) Trading 0.6% Higher After Dividend Announcement

Nuveen Taxable Municipal Income Fund (NYSE:NBB)’s stock price shot up 0.6% during trading on Thursday following a dividend announcement from the company. The stock traded as high as $16.39 and last traded at $16.35. 93,893 shares traded hands during mid-day trading, an increase of 36% from the average session volume of 68,986 shares. The stock had previously closed at $16.26.

The newly announced dividend which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a $0.097 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.03%. This is a boost from Nuveen Taxable Municipal Income Fund’s previous monthly dividend of $0.10. The ex-dividend date is Thursday, August 15th.

Nuveen Taxable Municipal Income Fund Price Performance

The firm’s 50-day moving average is $15.51 and its 200 day moving average is $15.37.

Institutional Investors Weigh In On Nuveen Taxable Municipal Income Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new position in Nuveen Taxable Municipal Income Fund in the 2nd quarter valued at $95,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Nuveen Taxable Municipal Income Fund in the first quarter valued at about $154,000. Integrated Capital Management Inc. increased its stake in shares of Nuveen Taxable Municipal Income Fund by 7.1% during the first quarter. Integrated Capital Management Inc. now owns 11,358 shares of the company’s stock worth $174,000 after acquiring an additional 750 shares during the period. Opal Wealth Advisors LLC purchased a new position in Nuveen Taxable Municipal Income Fund during the first quarter worth about $194,000. Finally, Weiss Asset Management LP acquired a new stake in Nuveen Taxable Municipal Income Fund in the fourth quarter valued at about $203,000.

Nuveen Taxable Municipal Income Fund Company Profile

Nuveen Taxable Municipal Income Fund 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 also invests some portion of its portfolio in derivative instruments.