Nuveen Municipal Income Fund (NYSE:NMI) Shares Up 0.2%

Nuveen Municipal Income Fund, Inc. (NYSE:NMI)’s share price shot up 0.2% during mid-day trading on Friday . The company traded as high as $9.30 and last traded at $9.28. 42,017 shares changed hands during mid-day trading, an increase of 62% from the average session volume of 25,936 shares. The stock had previously closed at $9.26.

Nuveen Municipal Income Fund Price Performance

The stock’s 50-day moving average price is $9.31 and its 200-day moving average price is $9.20.

Nuveen Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be given a $0.036 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.43 dividend on an annualized basis and a dividend yield of 4.66%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Wolverine Asset Management LLC bought a new position in shares of Nuveen Municipal Income Fund in the 3rd quarter worth about $118,000. Fortitude Advisory Group L.L.C. increased its holdings in shares of Nuveen Municipal Income Fund by 9.4% in the 4th quarter. Fortitude Advisory Group L.L.C. now owns 26,920 shares of the company’s stock worth $248,000 after acquiring an additional 2,320 shares during the period. Finally, 1607 Capital Partners LLC increased its holdings in shares of Nuveen Municipal Income Fund by 2.2% in the 4th quarter. 1607 Capital Partners LLC now owns 785,667 shares of the company’s stock worth $7,228,000 after acquiring an additional 17,254 shares during the period. 16.57% of the stock is currently owned by institutional investors.

About Nuveen Municipal Income Fund

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.