Nuveen Municipal Income Fund, Inc. (NYSE:NMI) Short Interest Down 60.4% in March

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 6,700 shares, a decline of 60.4% from the February 29th total of 16,900 shares. Based on an average trading volume of 29,300 shares, the days-to-cover ratio is currently 0.2 days.

Nuveen Municipal Income Fund Stock Performance

Shares of NMI traded down $0.02 during trading hours on Thursday, hitting $9.45. The stock had a trading volume of 19,402 shares, compared to its average volume of 28,023. Nuveen Municipal Income Fund has a 12 month low of $8.30 and a 12 month high of $10.05. The stock has a fifty day moving average price of $9.30 and a 200 day moving average price of $9.01.

Nuveen Municipal Income Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th will be paid a dividend of $0.036 per share. This represents a $0.43 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Thursday, March 14th. This is a boost from Nuveen Municipal Income Fund’s previous monthly dividend of $0.03.

Hedge Funds Weigh In On Nuveen Municipal Income Fund

A number of institutional investors have recently bought and sold shares of NMI. Crestone Asset Management LLC purchased a new position in shares of Nuveen Municipal Income Fund during the 3rd quarter valued at $91,000. Wolverine Asset Management LLC purchased a new position in shares of Nuveen Municipal Income Fund in the third quarter valued at about $118,000. UBS Group AG boosted its stake in shares of Nuveen Municipal Income Fund by 32.0% in the fourth quarter. UBS Group AG now owns 12,800 shares of the company’s stock worth $120,000 after acquiring an additional 3,100 shares during the period. First Trust Advisors LP purchased a new stake in shares of Nuveen Municipal Income Fund during the fourth quarter worth about $201,000. Finally, Fortitude Advisory Group L.L.C. raised its stake in Nuveen Municipal Income Fund by 9.4% during the 4th quarter. Fortitude Advisory Group L.L.C. now owns 26,920 shares of the company’s stock valued at $248,000 after purchasing an additional 2,320 shares during the period. 16.57% of the stock is owned by institutional investors.

Nuveen Municipal Income Fund Company Profile

Nuveen Municipal Income Fund, Inc is a closed ended fixed income mutual fund launched by Nuveen Investments Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund primarily invests in municipal obligations issued by state and local government authorities.