Neuberger Berman Municipal Fund Inc. (NYSEAMERICAN:NBH) Sees Significant Growth in Short Interest

Neuberger Berman Municipal Fund Inc. (NYSEAMERICAN:NBH) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 109,285 shares, a growth of 73.7% from the September 15th total of 62,898 shares. Based on an average daily trading volume, of 152,515 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of Neuberger Berman Municipal Fund

A number of hedge funds have recently added to or reduced their stakes in NBH. Hollencrest Capital Management grew its stake in shares of Neuberger Berman Municipal Fund by 32.8% in the 1st quarter. Hollencrest Capital Management now owns 9,687 shares of the company’s stock valued at $98,000 after purchasing an additional 2,392 shares during the last quarter. NewEdge Advisors LLC increased its position in Neuberger Berman Municipal Fund by 455.8% during the 2nd quarter. NewEdge Advisors LLC now owns 16,584 shares of the company’s stock worth $175,000 after purchasing an additional 13,600 shares during the period. Kestra Advisory Services LLC grew its holdings in Neuberger Berman Municipal Fund by 7.9% during the first quarter. Kestra Advisory Services LLC now owns 19,760 shares of the company’s stock worth $201,000 after acquiring an additional 1,448 shares during the period. Evolve Private Wealth LLC purchased a new position in shares of Neuberger Berman Municipal Fund in the 2nd quarter valued at about $220,000. Finally, Bank of New York Mellon Corp increased its holdings in Neuberger Berman Municipal Fund by 14.6% in the first quarter. Bank of New York Mellon Corp now owns 22,036 shares of the company’s stock valued at $224,000 after buying an additional 2,804 shares in the last quarter.

Neuberger Berman Municipal Fund Price Performance

Shares of NBH traded up $0.13 during mid-day trading on Friday, hitting $9.17. 165,378 shares of the company’s stock were exchanged, compared to its average volume of 105,414. Neuberger Berman Municipal Fund has a fifty-two week low of $8.77 and a fifty-two week high of $10.72. The business’s 50 day moving average is $9.68 and its two-hundred day moving average is $10.09.

Neuberger Berman Municipal Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 30th will be paid a dividend of $0.0542 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $0.65 annualized dividend and a yield of 7.1%.

Neuberger Berman Municipal Fund Company Profile

Neuberger Berman Municipal Fund (NYSE American: NBH) is a closed-end investment company that seeks to provide current income that is exempt from regular federal income tax. The fund invests primarily in municipal securities issued by states, municipalities, and other governmental entities in the United States and its territories.

The portfolio may include general obligation bonds, revenue bonds, and other tax-exempt debt instruments used to finance public projects and services. The fund may also invest in securities with different credit qualities and maturities, subject to its investment policies, allowing it to pursue income while managing interest-rate and credit-related risks.

NBH is managed by Neuberger Berman Investment Advisers LLC, an affiliate of Neuberger Berman, an independent, employee-owned investment manager.