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

Nuveen Taxable Municipal Income Fund (NYSE:NBB) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 78,043 shares, a drop of 33.5% from the September 30th total of 117,314 shares. Based on an average daily volume of 129,944 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Investors Weigh In On Nuveen Taxable Municipal Income Fund

Hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Nuveen Taxable Municipal Income Fund during the 2nd quarter worth about $56,000. Fifth Third Bancorp bought a new position in Nuveen Taxable Municipal Income Fund during the first quarter worth $82,000. Caitlin John LLC bought a new position in Nuveen Taxable Municipal Income Fund during the second quarter worth $118,000. Mystic Asset Management Inc. acquired a new position in Nuveen Taxable Municipal Income Fund during the 2nd quarter valued at $158,000. Finally, Van Hulzen Asset Management LLC acquired a new position in Nuveen Taxable Municipal Income Fund during the 2nd quarter valued at $183,000.

Nuveen Taxable Municipal Income Fund Price Performance

Shares of Nuveen Taxable Municipal Income Fund stock traded down $0.11 on Tuesday, reaching $14.61. The stock had a trading volume of 39,591 shares, compared to its average volume of 64,271. The business’s 50-day moving average price is $14.63 and its two-hundred day moving average price is $15.44. Nuveen Taxable Municipal Income Fund has a fifty-two week low of $13.76 and a fifty-two week high of $16.57.

Nuveen Taxable Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a dividend of $0.0965 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.16 dividend on an annualized basis and a yield of 7.9%.

About Nuveen Taxable Municipal Income Fund

Nuveen Taxable Municipal Income Fund (NYSE:NBB) is a closed-end investment fund managed by Nuveen. The fund seeks to provide current income by investing primarily in taxable municipal securities issued by states, municipalities, public authorities and other governmental entities in the United States.

The portfolio may include Build America Bonds and other taxable municipal obligations, as well as securities issued to finance public infrastructure and essential services. Unlike traditional municipal bond funds, NBB focuses on taxable securities, which can provide exposure to the municipal debt market for investors whose circumstances make tax-exempt municipal income less suitable.

The fund invests across the U.S.