Nuveen Municipal Income Fund (NYSE:NMI) Stock Price Down 0.8% – Time to Sell?

Shares of Nuveen Municipal Income Fund, Inc. (NYSE:NMI) were down 0.8% on Monday . The company traded as low as $9.82 and last traded at $9.8510. Approximately 52,157 shares were traded during trading, an increase of 31% from the average daily volume of 39,951 shares. The stock had previously closed at $9.93.

Nuveen Municipal Income Fund Trading Down 0.8%

The stock has a fifty day simple moving average of $10.18 and a two-hundred day simple moving average of $10.09.

Nuveen Municipal Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a $0.038 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 4.6%.

Institutional Trading of Nuveen Municipal Income Fund

Large investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC bought a new stake in shares of Nuveen Municipal Income Fund during the 4th quarter valued at about $37,000. Raymond James Financial Inc. bought a new stake in shares of Nuveen Municipal Income Fund during the 2nd quarter valued at about $72,000. Astoria Portfolio Advisors LLC. bought a new stake in shares of Nuveen Municipal Income Fund during the 4th quarter valued at about $116,000. Cetera Investment Advisers bought a new stake in shares of Nuveen Municipal Income Fund during the 2nd quarter valued at about $118,000. Finally, Community Bank & Trust Waco Texas bought a new stake in shares of Nuveen Municipal Income Fund during the 3rd quarter valued at about $117,000. Institutional investors own 16.57% of the company’s stock.

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.