Nuveen Municipal Income Fund, Inc. (NYSE:NMI) Stock Short Interest Climbs 67.2%

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 36,327 shares, an increase of 67.2% from the August 31st total of 21,729 shares. Based on an average daily volume of 29,312 shares, the short-interest ratio is currently 1.2 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Trading of Nuveen Municipal Income Fund

A number of institutional investors have recently made changes to their positions in the company. OneDigital Investment Advisors LLC purchased a new stake in shares of Nuveen Municipal Income Fund during the second quarter worth approximately $409,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Nuveen Municipal Income Fund by 195.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 209,716 shares of the company’s stock valued at $2,311,000 after purchasing an additional 138,770 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in Nuveen Municipal Income Fund by 118.6% during the 1st quarter. Kestra Advisory Services LLC now owns 12,024 shares of the company’s stock worth $126,000 after purchasing an additional 6,524 shares during the last quarter. World Investment Advisors acquired a new stake in Nuveen Municipal Income Fund during the 1st quarter worth $2,891,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Nuveen Municipal Income Fund by 76.9% during the first quarter. Janney Montgomery Scott LLC now owns 20,783 shares of the company’s stock worth $217,000 after buying an additional 9,035 shares in the last quarter. 16.57% of the stock is owned by institutional investors and hedge funds.

Nuveen Municipal Income Fund Trading Up 0.4%

Nuveen Municipal Income Fund stock traded up $0.04 during midday trading on Thursday, reaching $9.38. The company had a trading volume of 103,893 shares, compared to its average volume of 30,866. Nuveen Municipal Income Fund has a 12-month low of $9.10 and a 12-month high of $11.28. The firm’s fifty day simple moving average is $10.31 and its 200-day simple moving average is $10.50.

Nuveen Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.0380 dividend. This represents a $0.46 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Tuesday, September 15th.

Nuveen Municipal Income Fund Company Profile

Nuveen Municipal Income Fund (NYSE:NMI) is a closed-end management investment company advised by Nuveen Asset Management, a subsidiary of Nuveen, the asset-management business of TIAA. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal securities.

The fund invests in debt obligations issued by states, municipalities, and other governmental entities and related authorities across the United States. These securities may help finance public services and infrastructure projects, including transportation, utilities, education, health care, and other community facilities.