Nuveen Taxable Municipal Income Fund (NYSE:NBB) Short Interest Update

Nuveen Taxable Municipal Income Fund (NYSE:NBB) saw 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 presently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NBB. NewEdge Advisors LLC increased its holdings in shares of Nuveen Taxable Municipal Income Fund by 17.6% during the first quarter. NewEdge Advisors LLC now owns 20,271 shares of the company’s stock valued at $317,000 after purchasing an additional 3,041 shares during the period. Bank of America Corp DE lifted its holdings 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 worth $8,672,000 after purchasing an additional 16,767 shares during the period. Royal Bank of Canada lifted its holdings in Nuveen Taxable Municipal Income Fund by 69.1% in the first quarter. Royal Bank of Canada now owns 41,391 shares of the company’s stock worth $648,000 after purchasing an additional 16,919 shares during the period. First Trust Advisors LP grew its position in Nuveen Taxable Municipal Income Fund by 10.5% in the 1st quarter. First Trust Advisors LP now owns 71,416 shares of the company’s stock valued at $1,118,000 after buying an additional 6,778 shares in the last quarter. Finally, Calamos Advisors LLC bought a new position in Nuveen Taxable Municipal Income Fund in the 1st quarter valued at about $296,000.

Nuveen Taxable Municipal Income Fund Stock Performance

Shares of NYSE NBB traded down $0.07 during midday trading on Wednesday, hitting $15.49. 74,157 shares of the company’s stock were exchanged, compared to its average volume of 56,255. The stock’s 50 day moving average price is $15.70 and its 200-day moving average price is $15.81. Nuveen Taxable Municipal Income Fund has a twelve month low of $14.95 and a twelve month high of $16.62.

Nuveen Taxable Municipal Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.0965 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) annualized dividend and a yield of 7.5%.

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.