Nuveen Municipal Income Fund (NYSE:NMI) Shares Down 1.1% – Time to Sell?

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) shares fell 1.1% on Wednesday . The stock traded as low as $10.03 and last traded at $10.33. 29,210 shares changed hands during trading, an increase of 2% from the average session volume of 28,726 shares. The stock had previously closed at $10.45.

Nuveen Municipal Income Fund Price Performance

The business’s fifty day moving average price is $10.02 and its 200-day moving average price is $10.01.

Nuveen Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.038 per share. This represents a c) dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Friday, March 13th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new position in shares of Nuveen Municipal Income Fund during the 4th quarter valued at $37,000. Raymond James Financial Inc. purchased a new stake in shares of Nuveen Municipal Income Fund in the second quarter worth $72,000. Astoria Portfolio Advisors LLC. purchased a new stake in shares of Nuveen Municipal Income Fund in the fourth quarter worth $116,000. Community Bank & Trust Waco Texas bought a new stake in Nuveen Municipal Income Fund during the third quarter valued at $117,000. Finally, Cetera Investment Advisers bought a new stake in Nuveen Municipal Income Fund during the second quarter valued at $118,000. 16.57% of the stock is owned by institutional investors.

About Nuveen Municipal Income Fund

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.