Nuveen Taxable Municipal Income Fund (NYSE:NBB) Shares Shorted: Short Interest Up 61.6% in September

Nuveen Taxable Municipal Income Fund (NYSE:NBB) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 135,101 shares, a growth of 61.6% from the August 31st total of 83,613 shares. Based on an average trading volume of 74,562 shares, the short-interest ratio is presently 1.8 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. increased its position in Nuveen Taxable Municipal Income Fund by 3.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 48,678 shares of the company’s stock valued at $768,000 after acquiring an additional 1,846 shares during the period. NewEdge Advisors LLC grew its stake in shares of Nuveen Taxable Municipal Income Fund by 10.8% in the second quarter. NewEdge Advisors LLC now owns 22,456 shares of the company’s stock worth $354,000 after purchasing an additional 2,185 shares during the last quarter. Comprehensive Money Management Services LLC bought a new stake in shares of Nuveen Taxable Municipal Income Fund in the second quarter worth $260,000. Caitlin John LLC acquired a new stake in Nuveen Taxable Municipal Income Fund in the second quarter valued at $118,000. Finally, Palogic Value Management L.P. acquired a new stake in Nuveen Taxable Municipal Income Fund in the second quarter valued at $316,000.

Nuveen Taxable Municipal Income Fund Price Performance

NBB traded up $0.20 on Wednesday, reaching $14.32. The stock had a trading volume of 84,927 shares, compared to its average volume of 58,664. Nuveen Taxable Municipal Income Fund has a fifty-two week low of $13.97 and a fifty-two week high of $16.62. The firm has a 50-day moving average of $15.15 and a 200-day moving average of $15.50.

Nuveen Taxable Municipal Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.0965 per share. This represents a $1.16 annualized dividend and a dividend yield of 8.1%. The ex-dividend date is Tuesday, September 15th.

About Nuveen Taxable Municipal Income Fund

Nuveen Taxable Municipal Income Fund (NYSE:NBB) is a closed-end investment fund managed by Nuveen Asset Management. The fund seeks to provide current income and, secondarily, capital appreciation by investing primarily in taxable municipal securities issued by state and local governments and related entities.

Its portfolio may include taxable municipal bonds such as Build America Bonds, private activity bonds and other municipal obligations whose interest is generally subject to U.S. federal income tax.