Nuveen Municipal Income Fund (NYSE:NMI) Stock Price Down 0.5%

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) fell 0.5% during mid-day trading on Wednesday . The stock traded as low as $9.17 and last traded at $9.19. 6,450 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 26,266 shares. The stock had previously closed at $9.24.

Nuveen Municipal Income Fund Price Performance

The company’s 50 day simple moving average is $9.27 and its 200-day simple moving average is $9.08.

Nuveen Municipal Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a dividend of $0.036 per share. This represents a $0.43 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Friday, April 12th.

Hedge Funds Weigh In On Nuveen Municipal Income Fund

Several institutional investors have recently bought and sold shares of the business. Crestone Asset Management LLC acquired a new stake in Nuveen Municipal Income Fund in the third quarter valued at approximately $91,000. Wolverine Asset Management LLC acquired a new stake in Nuveen Municipal Income Fund in the third quarter valued at approximately $118,000. Fortitude Advisory Group L.L.C. boosted its stake in Nuveen Municipal Income Fund by 9.4% in the fourth quarter. Fortitude Advisory Group L.L.C. now owns 26,920 shares of the company’s stock valued at $248,000 after acquiring an additional 2,320 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Nuveen Municipal Income Fund by 1.9% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 193,450 shares of the company’s stock valued at $1,664,000 after acquiring an additional 3,697 shares in the last quarter. Finally, 1607 Capital Partners LLC boosted its stake in Nuveen Municipal Income Fund by 2.2% in the fourth quarter. 1607 Capital Partners LLC now owns 785,667 shares of the company’s stock valued at $7,228,000 after acquiring an additional 17,254 shares in the last quarter. 16.57% of the stock is owned by hedge funds and other institutional investors.

Nuveen Municipal Income Fund Company Profile

Nuveen Municipal Income Fund, Inc is a closed ended fixed income mutual fund launched by Nuveen Investments Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund primarily invests in municipal obligations issued by state and local government authorities.