Nuveen Municipal Income Fund, Inc. (NMI) to Issue Monthly Dividend of $0.04 on May 1st

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) declared a monthly dividend on Monday, April 1st, Wall Street Journal reports. Investors of record on Monday, April 15th will be paid a dividend of 0.036 per share on Wednesday, May 1st. This represents a $0.43 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Friday, April 12th.

Nuveen Municipal Income Fund Stock Performance

NMI stock remained flat at $9.33 during midday trading on Wednesday. 14,756 shares of the company’s stock were exchanged, compared to its average volume of 27,733. Nuveen Municipal Income Fund has a 12 month low of $8.30 and a 12 month high of $10.05. The company’s fifty day moving average price is $9.31 and its 200-day moving average price is $9.02.

Institutional Trading of Nuveen Municipal Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley increased its holdings in shares of Nuveen Municipal Income Fund by 55.9% in the 4th quarter. Morgan Stanley now owns 85,760 shares of the company’s stock valued at $806,000 after acquiring an additional 30,760 shares during the period. First Trust Advisors LP acquired a new position in shares of Nuveen Municipal Income Fund in the 4th quarter valued at $201,000. LPL Financial LLC increased its holdings in shares of Nuveen Municipal Income Fund by 29.2% in the 2nd quarter. LPL Financial LLC now owns 86,575 shares of the company’s stock valued at $802,000 after acquiring an additional 19,582 shares during the period. Finally, UBS Group AG increased its holdings in shares of Nuveen Municipal Income Fund by 47.2% in the 4th quarter. UBS Group AG now owns 27,285 shares of the company’s stock valued at $251,000 after acquiring an additional 8,750 shares during the period. Institutional investors and hedge funds own 16.57% of the company’s stock.

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.