Nuveen Municipal Income Fund (NYSE:NMI) Shares Up 0.6% – Time to Buy?

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) rose 0.6% on Monday . The company traded as high as $10.03 and last traded at $10.02. Approximately 54,342 shares traded hands during trading, an increase of 9% from the average daily volume of 49,632 shares. The stock had previously closed at $9.96.

Nuveen Municipal Income Fund Price Performance

The firm’s 50-day simple moving average is $10.05 and its two-hundred day simple moving average is $9.98.

Nuveen Municipal Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be paid a $0.038 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a c) annualized dividend and a yield of 4.6%.

Hedge Funds Weigh In On Nuveen Municipal Income Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers bought a new position in Nuveen Municipal Income Fund during the 2nd quarter worth about $118,000. Guggenheim Capital LLC grew its holdings in Nuveen Municipal Income Fund by 19.7% during the second quarter. Guggenheim Capital LLC now owns 254,144 shares of the company’s stock worth $2,554,000 after purchasing an additional 41,852 shares during the period. Raymond James Financial Inc. bought a new position in shares of Nuveen Municipal Income Fund during the 2nd quarter worth approximately $72,000. Ameriprise Financial Inc. increased its holdings in shares of Nuveen Municipal Income Fund by 137.8% in the second quarter. Ameriprise Financial Inc. now owns 29,102 shares of the company’s stock valued at $292,000 after purchasing an additional 16,864 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in Nuveen Municipal Income Fund by 74.6% in the 2nd quarter. Osaic Holdings Inc. now owns 35,583 shares of the company’s stock valued at $358,000 after acquiring an additional 15,200 shares during the period. 16.57% of the stock is currently owned by institutional investors and hedge funds.

Nuveen Municipal Income Fund Company Profile

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.