Short Interest in Nuveen Taxable Municipal Income Fund (NYSE:NBB) Declines By 42.6%

Nuveen Taxable Municipal Income Fund (NYSE:NBB) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 11,746 shares, a decrease of 42.6% from the July 15th total of 20,478 shares. Based on an average daily volume of 45,456 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Nuveen Taxable Municipal Income Fund

A number of hedge funds have recently added to or reduced their stakes in NBB. Sit Investment Associates Inc. boosted its stake in Nuveen Taxable Municipal Income Fund by 2.0% during the 4th quarter. Sit Investment Associates Inc. now owns 3,831,416 shares of the company’s stock valued at $60,536,000 after purchasing an additional 76,243 shares during the last quarter. Raymond James Financial Inc. raised 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 worth $19,491,000 after purchasing an additional 162,971 shares during the last quarter. Eagle Bluffs Wealth Management LLC lifted its holdings in shares of Nuveen Taxable Municipal Income Fund by 6.6% during the first quarter. Eagle Bluffs Wealth Management LLC now owns 891,543 shares of the company’s stock valued at $14,046,000 after purchasing an additional 55,105 shares in the last quarter. LaSalle St. Investment Advisors LLC purchased a new stake in shares of Nuveen Taxable Municipal Income Fund during the second quarter valued at $9,848,000. Finally, Bank of America Corp DE purchased a new stake in shares of Nuveen Taxable Municipal Income Fund during the second quarter valued at $8,766,000.

Nuveen Taxable Municipal Income Fund Stock Down 0.2%

NYSE:NBB traded down $0.04 on Monday, reaching $15.41. 11,484 shares of the stock traded hands, compared to its average volume of 55,063. Nuveen Taxable Municipal Income Fund has a 12 month low of $14.95 and a 12 month high of $16.62. The company’s fifty day simple moving average is $15.51 and its 200 day simple moving average is $15.72.

Nuveen Taxable Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.0965 per share. The ex-dividend date is Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 7.5%.

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.