Nuveen Taxable Municipal Income Fund (NYSE:NBB) Stock Price Down 0.7% – What’s Next?

Nuveen Taxable Municipal Income Fund (NYSE:NBB) was down 0.7% on Friday . The company traded as low as $16.14 and last traded at $16.16. Approximately 93,547 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 75,844 shares. The stock had previously closed at $16.28.

Nuveen Taxable Municipal Income Fund Price Performance

The company’s 50-day moving average is $16.51 and its 200-day moving average is $15.81.

Nuveen Taxable Municipal Income Fund Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th were issued a $0.097 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This is a boost from Nuveen Taxable Municipal Income Fund’s previous monthly dividend of $0.10. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.20%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NBB. International Assets Investment Management LLC bought a new stake in Nuveen Taxable Municipal Income Fund during the 2nd quarter worth about $95,000. Oppenheimer & Co. Inc. acquired a new stake in Nuveen Taxable Municipal Income Fund during the 1st quarter worth approximately $154,000. Integrated Capital Management Inc. lifted its position in Nuveen Taxable Municipal Income Fund by 19.4% in the 2nd quarter. Integrated Capital Management Inc. now owns 13,567 shares of the company’s stock valued at $210,000 after acquiring an additional 2,209 shares in the last quarter. Cetera Advisors LLC bought a new stake in shares of Nuveen Taxable Municipal Income Fund in the first quarter valued at about $229,000. Finally, Calamos Advisors LLC acquired a new position in Nuveen Taxable Municipal Income Fund during the 2nd quarter worth approximately $245,000.

Nuveen Taxable Municipal Income Fund Company Profile

Nuveen Taxable Municipal Income Fund 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 also invests some portion of its portfolio in derivative instruments.