Northwestern Mutual Wealth Management Co. Acquires Shares of 516,095 Nuveen Municipal Income Fund, Inc. $NMI

Northwestern Mutual Wealth Management Co. bought a new stake in Nuveen Municipal Income Fund, Inc. (NYSE:NMI) in the 2nd quarter, Holdings Channel.com reports. The fund bought 516,095 shares of the company’s stock, valued at approximately $5,455,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Evolve Private Wealth LLC acquired a new position in shares of Nuveen Municipal Income Fund during the second quarter valued at $555,000. Chancellor Financial Group WB LP bought a new position in Nuveen Municipal Income Fund in the second quarter valued at about $276,000. Diversify Advisory Services LLC acquired a new stake in Nuveen Municipal Income Fund in the second quarter worth about $153,000. Principle Wealth Partners LLC acquired a new stake in Nuveen Municipal Income Fund in the second quarter worth about $116,000. Finally, OneDigital Investment Advisors LLC bought a new stake in Nuveen Municipal Income Fund during the 2nd quarter worth about $409,000. Institutional investors own 16.57% of the company’s stock.

Nuveen Municipal Income Fund Price Performance

Shares of NYSE:NMI opened at $10.41 on Monday. Nuveen Municipal Income Fund, Inc. has a 1-year low of $9.62 and a 1-year high of $11.28. The business has a 50-day moving average price of $10.78 and a two-hundred day moving average price of $10.50.

Nuveen Municipal Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.038 per share. The ex-dividend date is Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 4.4%.

Nuveen Municipal Income Fund Company Profile

Nuveen Municipal Income Fund (NYSE: NMI) is a closed-end management investment company that seeks to provide current income exempt from federal income tax. The fund primarily invests in municipal obligations issued by U.S. states, territories and municipalities, as well as certain municipal securities issued outside the United States. By focusing on a diversified portfolio of investment-grade and select below-investment-grade municipal bonds, NMI aims to deliver tax-advantaged income to its shareholders.

The fund’s portfolio typically includes general obligation bonds, revenue bonds and other municipal securities across a broad range of sectors, including transportation, utilities, health care and education.