Nuveen Taxable Municipal Income Fund (NYSE:NBB) Sees Large Drop in Short Interest

Nuveen Taxable Municipal Income Fund (NYSE:NBB) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 78,043 shares, a drop of 33.5% from the September 30th total of 117,314 shares. Based on an average daily volume of 129,944 shares, the days-to-cover ratio is currently 0.6 days.

Nuveen Taxable Municipal Income Fund Stock Performance

Shares of NBB opened at $14.62 on Wednesday. Nuveen Taxable Municipal Income Fund has a one year low of $13.76 and a one year high of $16.57. The stock has a 50-day moving average of $14.62 and a 200-day moving average of $15.44.

Nuveen Taxable Municipal Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be paid a dividend of $0.0965 per share. The ex-dividend date is Friday, November 13th. This represents a $1.16 annualized dividend and a yield of 7.9%.

Hedge Funds Weigh In On Nuveen Taxable Municipal Income Fund

A number of hedge funds have recently bought and sold shares of the company. Calamos Advisors LLC increased its stake in Nuveen Taxable Municipal Income Fund by 6.7% in the 3rd quarter. Calamos Advisors LLC now owns 21,573 shares of the company’s stock worth $308,000 after purchasing an additional 1,347 shares during the period. MGO One Seven LLC boosted its stake in shares of Nuveen Taxable Municipal Income Fund by 16.4% during the third quarter. MGO One Seven LLC now owns 25,630 shares of the company’s stock valued at $366,000 after purchasing an additional 3,620 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Nuveen Taxable Municipal Income Fund by 3.9% during the second quarter. Envestnet Asset Management Inc. now owns 48,678 shares of the company’s stock valued at $768,000 after purchasing an additional 1,846 shares during the period. NewEdge Advisors LLC grew its holdings 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. Finally, Comprehensive Money Management Services LLC bought a new position in shares of Nuveen Taxable Municipal Income Fund in the second quarter worth approximately $260,000.

About Nuveen Taxable Municipal Income Fund

Nuveen Taxable Municipal Income Fund (NYSE:NBB) is a closed-end investment fund managed by Nuveen. The fund seeks to provide current income by investing primarily in taxable municipal securities issued by states, municipalities, public authorities and other governmental entities in the United States.

The portfolio may include Build America Bonds and other taxable municipal obligations, as well as securities issued to finance public infrastructure and essential services. Unlike traditional municipal bond funds, NBB focuses on taxable securities, which can provide exposure to the municipal debt market for investors whose circumstances make tax-exempt municipal income less suitable.

The fund invests across the U.S.