Nuveen Multi-Asset Income Fund (NYSE:NMAI) Shares Down 1.7% – Here’s Why

Nuveen Multi-Asset Income Fund (NYSE:NMAI) shares traded down 1.7% during trading on Thursday . The company traded as low as $13.69 and last traded at $13.69. Approximately 26,901 shares were traded during trading, a decline of 77% from the average daily volume of 117,929 shares. The stock had previously closed at $13.93.

Nuveen Multi-Asset Income Fund Price Performance

The company has a fifty day moving average price of $13.91 and a two-hundred day moving average price of $13.53.

Nuveen Multi-Asset Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be paid a $0.116 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 10.2%.

Hedge Funds Weigh In On Nuveen Multi-Asset Income Fund

A number of hedge funds have recently modified their holdings of NMAI. Royal Bank of Canada increased its holdings in shares of Nuveen Multi-Asset Income Fund by 189.8% in the 1st quarter. Royal Bank of Canada now owns 98,778 shares of the company’s stock valued at $1,187,000 after acquiring an additional 64,693 shares during the period. NewEdge Advisors LLC grew its position in Nuveen Multi-Asset Income Fund by 10.7% during the 1st quarter. NewEdge Advisors LLC now owns 27,650 shares of the company’s stock worth $332,000 after purchasing an additional 2,666 shares during the last quarter. Jane Street Group LLC purchased a new position in Nuveen Multi-Asset Income Fund during the 1st quarter worth $407,000. JPMorgan Chase & Co. grew its position in Nuveen Multi-Asset Income Fund by 3,324.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 46,224 shares of the company’s stock worth $584,000 after purchasing an additional 44,874 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Nuveen Multi-Asset Income Fund by 17.7% in the second quarter. First Trust Advisors LP now owns 77,342 shares of the company’s stock valued at $977,000 after purchasing an additional 11,607 shares during the period.

Nuveen Multi-Asset Income Fund (NYSE: NMAI) is a closed-end investment fund managed by Nuveen, a global asset manager and subsidiary of TIAA. The fund is listed on the New York Stock Exchange and seeks to provide investors with high current income and the potential for capital appreciation. Nuveen Multi-Asset Income Fund employs an actively managed, diversified approach across multiple asset classes, leveraging Nuveen’s extensive research and portfolio management infrastructure.

The fund’s investment strategy centers on allocating assets among a broad range of income-producing instruments.