Nuveen Taxable Municipal Income Fund (NYSE:NBB) Sees Significant Growth in Short Interest

Nuveen Taxable Municipal Income Fund (NYSE:NBB) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 135,101 shares, a growth of 61.6% from the August 31st total of 83,613 shares. Based on an average daily volume of 74,562 shares, the days-to-cover ratio is presently 1.8 days.

Nuveen Taxable Municipal Income Fund Stock Performance

Shares of NBB stock opened at $14.29 on Friday. The stock has a 50-day moving average price of $15.12 and a 200 day moving average price of $15.48. Nuveen Taxable Municipal Income Fund has a 12 month low of $13.97 and a 12 month high of $16.62.

Nuveen Taxable Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be issued a $0.0965 dividend. This represents a $1.16 annualized dividend and a dividend yield of 8.1%. The ex-dividend date is Thursday, October 15th.

Hedge Funds Weigh In On Nuveen Taxable Municipal Income Fund

Large investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its stake in Nuveen Taxable Municipal Income Fund by 3.9% in the second quarter. Envestnet Asset Management Inc. now owns 48,678 shares of the company’s stock valued at $768,000 after purchasing an additional 1,846 shares in the last quarter. NewEdge Advisors LLC lifted its position in Nuveen Taxable Municipal Income Fund by 10.8% during the second quarter. NewEdge Advisors LLC now owns 22,456 shares of the company’s stock worth $354,000 after acquiring an additional 2,185 shares during the last quarter. Comprehensive Money Management Services LLC acquired a new stake in Nuveen Taxable Municipal Income Fund during the 2nd quarter worth approximately $260,000. Caitlin John LLC bought a new stake in shares of Nuveen Taxable Municipal Income Fund in the second quarter valued at about $118,000. Finally, Palogic Value Management L.P. acquired a new stake in Nuveen Taxable Municipal Income Fund during the second quarter worth approximately $316,000.

Nuveen Taxable Municipal Income Fund Company Profile

Nuveen Taxable Municipal Income Fund (NYSE:NBB) is a closed-end investment fund managed by Nuveen Asset Management. The fund seeks to provide current income and, secondarily, capital appreciation by investing primarily in taxable municipal securities issued by state and local governments and related entities.

Its portfolio may include taxable municipal bonds such as Build America Bonds, private activity bonds and other municipal obligations whose interest is generally subject to U.S. federal income tax.