Neuberger Berman Municipal Fund Inc. (NYSEAMERICAN:NBH) Shares Shorted: Short Interest Up 73.7% in September

Neuberger Berman Municipal Fund Inc. (NYSEAMERICAN:NBH) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 109,285 shares, an increase of 73.7% from the September 15th total of 62,898 shares. Based on an average daily trading volume, of 152,515 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Robinson Capital Management LLC lifted its stake in Neuberger Berman Municipal Fund by 20.5% in the 2nd quarter. Robinson Capital Management LLC now owns 512,302 shares of the company’s stock valued at $5,405,000 after purchasing an additional 87,042 shares during the last quarter. NewEdge Advisors LLC boosted its position in Neuberger Berman Municipal Fund by 455.8% in the second quarter. NewEdge Advisors LLC now owns 16,584 shares of the company’s stock valued at $175,000 after buying an additional 13,600 shares in the last quarter. Rivernorth Capital Management LLC boosted its position in Neuberger Berman Municipal Fund by 0.8% in the second quarter. Rivernorth Capital Management LLC now owns 937,491 shares of the company’s stock valued at $9,891,000 after buying an additional 7,716 shares in the last quarter. Van ECK Associates Corp boosted its position in Neuberger Berman Municipal Fund by 0.4% in the second quarter. Van ECK Associates Corp now owns 281,107 shares of the company’s stock valued at $2,966,000 after buying an additional 1,251 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Neuberger Berman Municipal Fund during the second quarter worth $1,764,000.

Neuberger Berman Municipal Fund Stock Performance

NYSEAMERICAN:NBH traded up $0.13 during trading hours on Thursday, hitting $9.05. The company’s stock had a trading volume of 171,252 shares, compared to its average volume of 104,415. The stock has a fifty day simple moving average of $9.72 and a 200-day simple moving average of $10.11. Neuberger Berman Municipal Fund has a twelve month low of $8.77 and a twelve month high of $10.72.

Neuberger Berman Municipal Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.0542 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.65 annualized dividend and a yield of 7.2%.

Neuberger Berman Municipal Fund Company Profile

Neuberger Berman Municipal Fund (NYSE American: NBH) is a closed-end investment company that seeks to provide current income that is exempt from regular federal income tax. The fund invests primarily in municipal securities issued by states, municipalities, and other governmental entities in the United States and its territories.

The portfolio may include general obligation bonds, revenue bonds, and other tax-exempt debt instruments used to finance public projects and services. The fund may also invest in securities with different credit qualities and maturities, subject to its investment policies, allowing it to pursue income while managing interest-rate and credit-related risks.

NBH is managed by Neuberger Berman Investment Advisers LLC, an affiliate of Neuberger Berman, an independent, employee-owned investment manager.