Short Interest in Nuveen Municipal Income Fund, Inc. (NYSE:NMI) Increases By 30.4%

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 17,600 shares, an increase of 30.4% from the February 28th total of 13,500 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 25,900 shares, the short-interest ratio is currently 0.7 days.

Nuveen Municipal Income Fund Stock Up 1.3 %

Shares of NMI stock traded up $0.13 during trading on Monday, reaching $9.86. The company had a trading volume of 33,116 shares, compared to its average volume of 26,113. The firm’s 50 day simple moving average is $9.82 and its two-hundred day simple moving average is $9.75. Nuveen Municipal Income Fund has a one year low of $9.11 and a one year high of $10.30.

Nuveen Municipal Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.038 per share. This represents a $0.46 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend is Friday, March 14th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. 1607 Capital Partners LLC boosted its holdings in Nuveen Municipal Income Fund by 19.9% during the fourth quarter. 1607 Capital Partners LLC now owns 288,375 shares of the company’s stock valued at $2,714,000 after acquiring an additional 47,914 shares during the period. Jones Financial Companies Lllp grew its holdings in Nuveen Municipal Income Fund by 27.9% in the 4th quarter. Jones Financial Companies Lllp now owns 192,296 shares of the company’s stock valued at $1,810,000 after buying an additional 41,907 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in Nuveen Municipal Income Fund in the 4th quarter valued at approximately $775,000. Janney Montgomery Scott LLC bought a new position in Nuveen Municipal Income Fund in the 4th quarter worth approximately $109,000. Finally, WESPAC Advisors LLC acquired a new position in shares of Nuveen Municipal Income Fund during the fourth quarter worth approximately $94,000. 16.57% of the stock is currently owned by institutional investors and hedge funds.

About Nuveen Municipal Income Fund

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.