Newgate Capital Management adds Nuveen Premium Income Municipal Fund Inc (NPI) to its portfolio

Nuveen Premium Income Municipal Fund Inc (NPI) : Newgate Capital Management added new position in Nuveen Premium Income Municipal Fund Inc during the most recent quarter end. The investment management firm now holds 74,330 shares of Nuveen Premium Income Municipal Fund Inc which is valued at $1,158,805 , the company said in a statement filed on Aug 3, 2016 with the SEC.Nuveen Premium Income Municipal Fund Inc makes up approximately 0.92% of Newgate Capital Management’s portfolio.

Other Hedge Funds, Including , Mariner Investment Group sold out all of its stake in NPI during the most recent quarter. The investment firm sold 105,498 shares of NPI which is valued $1,644,714.Vicus Capital boosted its stake in NPI in the latest quarter, The investment management firm added 1,616 additional shares and now holds a total of 17,571 shares of Nuveen Premium Income Municipal Fund Inc which is valued at $273,932. Nuveen Premium Income Municipal Fund Inc makes up approx 0.07% of Vicus Capital’s portfolio.Sit Investment Associates Inc boosted its stake in NPI in the latest quarter, The investment management firm added 87,299 additional shares and now holds a total of 355,981 shares of Nuveen Premium Income Municipal Fund Inc which is valued at $5,489,227. Nuveen Premium Income Municipal Fund Inc makes up approx 0.14% of Sit Investment Associates Inc’s portfolio.Creative Planning reduced its stake in NPI by selling 434 shares or 2.82% in the most recent quarter. The Hedge Fund company now holds 14,950 shares of NPI which is valued at $227,091.

Nuveen Premium Income Municipal Fund Inc (NPI) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $15.59 and reached the intraday high at $15.59. The bulls started the profit booking and pushed the shares to intraday low of $15.53. The trading session was marked by a volume range of 1,00,794 shares exchanging hands. The 52-week high of the shares is $15.59 and the 52-week low is $13.05. The market cap of the company stands at $991 M and there are 6,37,85,000 shares in public circulation.

Nuveen Premium Income Municipal Fund Inc. is a diversified closed-end investment company. The Fund’s objective is to provide current income exempt from regular federal income tax consistent with the preservation of capital. The Fund invests at least 80% of its managed assets in municipal securities rated investment grade (Baa/BBB or better by S&P Moody’s or Fitch) at the time of investment or if they are unrated are judged by the manager to be of comparable quality. The Fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. The Fund invests in healthcare transportation utilities and education and civic organizations among others. It is managed by Nuveen Asset Management LLC.

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