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

Shares of Nuveen Taxable Municipal Income Fund (NYSE:NBB) dropped 0.7% during trading on Friday . The stock traded as low as $16.14 and last traded at $16.16. Approximately 93,547 shares changed hands during 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 Trading Down 0.7 %

The firm has a fifty day simple moving average of $16.51 and a 200 day simple moving average of $15.82.

Nuveen Taxable Municipal Income Fund Increases Dividend

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

Hedge Funds Weigh In On Nuveen Taxable Municipal Income Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC boosted its position in shares of Nuveen Taxable Municipal Income Fund by 139.7% in the second quarter. Wolverine Asset Management LLC now owns 30,563 shares of the company’s stock valued at $474,000 after acquiring an additional 17,814 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Nuveen Taxable Municipal Income Fund in the second quarter valued at approximately $95,000. GraniteShares Advisors LLC boosted its position in shares of Nuveen Taxable Municipal Income Fund by 14.3% in the second quarter. GraniteShares Advisors LLC now owns 121,951 shares of the company’s stock valued at $1,891,000 after acquiring an additional 15,212 shares during the period. Calamos Advisors LLC bought a new stake in shares of Nuveen Taxable Municipal Income Fund in the second quarter valued at approximately $245,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Nuveen Taxable Municipal Income Fund by 7.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 702,630 shares of the company’s stock valued at $10,898,000 after acquiring an additional 46,140 shares during the period.

About Nuveen Taxable Municipal Income Fund

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.