Nuveen Municipal Income Fund (NYSE:NMI) Shares Up 0.6% – Time to Buy?

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) shares traded up 0.6% on Monday . The stock traded as high as $10.03 and last traded at $10.02. 54,342 shares were traded during trading, an increase of 9% from the average session volume of 49,632 shares. The stock had previously closed at $9.96.

Nuveen Municipal Income Fund Stock Performance

The company’s 50-day moving average is $10.05 and its 200-day moving average is $9.98.

Nuveen Municipal Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were paid a dividend of $0.038 per share. This represents a c) annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Friday, February 13th.

Institutional Investors Weigh In On Nuveen Municipal Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its position in Nuveen Municipal Income Fund by 34.9% in the third quarter. Jones Financial Companies Lllp now owns 482,554 shares of the company’s stock valued at $4,777,000 after purchasing an additional 124,941 shares during the period. Community Bank & Trust Waco Texas purchased a new position in shares of Nuveen Municipal Income Fund during the third quarter worth $117,000. Apollon Financial LLC acquired a new stake in shares of Nuveen Municipal Income Fund in the third quarter valued at $169,000. Guggenheim Capital LLC grew its stake in shares of Nuveen Municipal Income Fund by 19.7% in the second quarter. Guggenheim Capital LLC now owns 254,144 shares of the company’s stock valued at $2,554,000 after buying an additional 41,852 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Nuveen Municipal Income Fund by 8.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 33,081 shares of the company’s stock valued at $328,000 after buying an additional 2,665 shares during the period. 16.57% of the stock is owned by hedge funds and other institutional investors.

Nuveen Municipal Income Fund Company Profile

Nuveen Municipal Income Fund (NYSE: NMI) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The fund primarily invests in municipal obligations issued by U.S. states, territories and municipalities, as well as certain municipal securities issued outside the United States. By focusing on a diversified portfolio of investment-grade and select below-investment-grade municipal bonds, NMI aims to deliver tax-advantaged income to its shareholders.

The fund’s portfolio typically includes general obligation bonds, revenue bonds and other municipal securities across a broad range of sectors, including transportation, utilities, health care and education.