Short Interest in Nuveen Taxable Municipal Income Fund (NYSE:NBB) Increases By 140.9%

by · The Cerbat Gem

Nuveen Taxable Municipal Income Fund (NYSE:NBB – Get Free Report) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 104,031 shares, an increase of 140.9% from the April 30th total of 43,176 shares. Based on an average daily trading volume, of 48,566 shares, the days-to-cover ratio is currently 2.1 days.

Hedge Funds Weigh In On Nuveen Taxable Municipal Income Fund

Several large investors have recently bought and sold shares of the company. Sit Investment Associates Inc. raised its position in Nuveen Taxable Municipal Income Fund by 2.0% in the fourth quarter. Sit Investment Associates Inc. now owns 3,831,416 shares of the company’s stock valued at $60,536,000 after purchasing an additional 76,243 shares during the last quarter. Raymond James Financial Inc. raised its position in Nuveen Taxable Municipal Income Fund by 15.7% in the third quarter. Raymond James Financial Inc. now owns 1,201,681 shares of the company’s stock valued at $19,491,000 after purchasing an additional 162,971 shares during the last quarter. Eagle Bluffs Wealth Management LLC raised its position in Nuveen Taxable Municipal Income Fund by 6.6% in the first quarter. Eagle Bluffs Wealth Management LLC now owns 891,543 shares of the company’s stock valued at $14,046,000 after purchasing an additional 55,105 shares during the last quarter. Bank of America Corp DE raised its position in Nuveen Taxable Municipal Income Fund by 3.1% in the first quarter. Bank of America Corp DE now owns 553,752 shares of the company’s stock valued at $8,672,000 after purchasing an additional 16,767 shares during the last quarter. Finally, M&T Bank Corp raised its position in Nuveen Taxable Municipal Income Fund by 4.5% in the third quarter. M&T Bank Corp now owns 535,240 shares of the company’s stock valued at $8,681,000 after purchasing an additional 23,010 shares during the last quarter.

Nuveen Taxable Municipal Income Fund Price Performance

Shares of NBB stock traded down $0.01 on Monday, hitting $15.87. 67,083 shares of the company’s stock were exchanged, compared to its average volume of 56,921. Nuveen Taxable Municipal Income Fund has a 12 month low of $14.95 and a 12 month high of $16.62. The company has a 50 day moving average of $15.73 and a 200 day moving average of $15.90.

Nuveen Taxable Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a $0.0965 dividend. The ex-dividend date is Friday, May 15th. This represents a c) annualized dividend and a yield of 7.3%.

About Nuveen Taxable Municipal Income Fund

(Get Free Report)

The Nuveen Taxable Municipal Income Fund (NYSE:NBB) is a closed-end management investment company that seeks to provide current income exempt from regular federal income tax. Established in 2008 and managed by Nuveen Asset Management LLC, the fund primarily invests in investment-grade municipal debt obligations. Its shares are traded on the New York Stock Exchange under the ticker symbol NBB.

NBB’s investment strategy focuses on taxable municipal securities, including pre-refunded and unrated obligations, issued by U.S.

Recommended Stories