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

Nuveen Municipal Income Fund, Inc. (NYSE:NMI) fell 0.5% during trading on Wednesday . The company 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 stock has a 50-day moving average of $9.28 and a 200 day moving average of $9.08.

Nuveen Municipal Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a $0.036 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.43 dividend on an annualized basis and a yield of 4.70%.

Institutional Investors Weigh In On Nuveen Municipal Income Fund

Large investors have recently bought and sold shares of the company. Crestone Asset Management LLC purchased a new stake in Nuveen Municipal Income Fund in the third quarter valued at approximately $91,000. Wolverine Asset Management LLC acquired a new position in Nuveen Municipal Income Fund in the third quarter valued at approximately $118,000. Fortitude Advisory Group L.L.C. lifted its holdings 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 during the period. Hennion & Walsh Asset Management Inc. lifted its holdings 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 during the period. Finally, 1607 Capital Partners LLC lifted its holdings 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 during the period. Hedge funds and other institutional investors 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.