Nuveen Multi-Market Income Fund (NYSE:JMM) Shares Up 0.6% – Still a Buy?

Nuveen Multi-Market Income Fund (NYSE:JMM)’s share price shot up 0.6% during mid-day trading on Tuesday . The company traded as high as $5.78 and last traded at $5.7750. Approximately 5,736 shares traded hands during trading, a decline of 32% from the average session volume of 8,426 shares. The stock had previously closed at $5.74.

Nuveen Multi-Market Income Fund Stock Up 0.6%

The firm’s fifty day simple moving average is $5.81 and its 200 day simple moving average is $5.88.

Nuveen Multi-Market Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.029 per share. The ex-dividend date is Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 6.0%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp bought a new stake in Nuveen Multi-Market Income Fund during the first quarter worth $28,000. Raymond James Financial Inc. bought a new position in shares of Nuveen Multi-Market Income Fund in the 2nd quarter valued at $30,000. Wolverine Asset Management LLC bought a new position in shares of Nuveen Multi-Market Income Fund in the 4th quarter valued at $85,000. Susquehanna International Group LLP raised its holdings in shares of Nuveen Multi-Market Income Fund by 16.2% during the 2nd quarter. Susquehanna International Group LLP now owns 28,650 shares of the company’s stock worth $168,000 after buying an additional 3,987 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. acquired a new position in shares of Nuveen Multi-Market Income Fund during the 2nd quarter worth $272,000. 67.34% of the stock is currently owned by institutional investors and hedge funds.

About Nuveen Multi-Market Income Fund

Nuveen Multi-Market Income Fund (NYSE: JMM) is a diversified, closed-end management investment company managed by Nuveen, a leading global asset manager and subsidiary of TIAA. The fund seeks to provide high current income with the potential for capital appreciation by investing across multiple asset classes and geographies. Its structure allows investors to access a broad range of income-producing securities through a single vehicle.

JMM’s investment strategy emphasizes a multi-sector approach, allocating capital to fixed-income sectors such as investment-grade and high-yield corporate bonds, emerging market debt, mortgage- and asset-backed securities, as well as preferred stocks.