Short Interest in Nuveen Taxable Municipal Income Fund (NYSE:NBB) Declines By 62.3%

Nuveen Taxable Municipal Income Fund (NYSE:NBB) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 22,932 shares, a drop of 62.3% from the June 15th total of 60,853 shares. Based on an average daily volume of 68,507 shares, the days-to-cover ratio is currently 0.3 days.

Nuveen Taxable Municipal Income Fund Trading Up 0.4%

Shares of NYSE NBB opened at $15.59 on Monday. The firm’s 50-day moving average price is $15.71 and its 200-day moving average price is $15.81. Nuveen Taxable Municipal Income Fund has a 1-year low of $14.95 and a 1-year high of $16.62.

Nuveen Taxable Municipal Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given a $0.0965 dividend. This represents a c) dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend is Wednesday, July 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. increased its holdings in shares of Nuveen Taxable Municipal Income Fund by 2.0% during the fourth quarter. Sit Investment Associates Inc. now owns 3,831,416 shares of the company’s stock valued at $60,536,000 after acquiring an additional 76,243 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Nuveen Taxable Municipal Income Fund by 15.7% during the third quarter. Raymond James Financial Inc. now owns 1,201,681 shares of the company’s stock worth $19,491,000 after purchasing an additional 162,971 shares during the period. Eagle Bluffs Wealth Management LLC lifted its holdings in shares of Nuveen Taxable Municipal Income Fund by 6.6% in the 1st quarter. Eagle Bluffs Wealth Management LLC now owns 891,543 shares of the company’s stock worth $14,046,000 after purchasing an additional 55,105 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Nuveen Taxable Municipal Income Fund by 3.1% in the 1st quarter. Bank of America Corp DE now owns 553,752 shares of the company’s stock worth $8,672,000 after purchasing an additional 16,767 shares in the last quarter. Finally, M&T Bank Corp grew its position in Nuveen Taxable Municipal Income Fund by 4.5% in the 3rd 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 period.

Nuveen Taxable Municipal Income Fund Company Profile

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.