0000830271 2026-06-10 2026-06-10 0000830271 dei:BusinessContactMember 2026-06-10 2026-06-10 0000830271 us-gaap:CommonStockMember 2026-06-03 0000830271 us-gaap:CommonStockMember 2026-06-03 2026-06-03 0000830271 us-gaap:CommonStockMember 2024-10-31 0000830271 us-gaap:CommonStockMember 2023-10-31 0000830271 us-gaap:CommonStockMember 2022-10-31 0000830271 us-gaap:CommonStockMember 2021-10-31 0000830271 us-gaap:CommonStockMember 2020-10-31 0000830271 us-gaap:CommonStockMember 2019-10-31 0000830271 us-gaap:CommonStockMember 2018-10-31 0000830271 us-gaap:CommonStockMember 2017-10-31 0000830271 us-gaap:CommonStockMember 2016-10-31 0000830271 us-gaap:CommonStockMember 2015-10-31 0000830271 us-gaap:CommonStockMember 2025-10-31 0000830271 us-gaap:CommonStockMember 2026-02-01 2026-04-30 0000830271 us-gaap:CommonStockMember 2025-11-01 2026-01-31 0000830271 us-gaap:CommonStockMember 2025-08-01 2025-10-31 0000830271 us-gaap:CommonStockMember 2025-05-01 2025-07-31 0000830271 us-gaap:CommonStockMember 2025-02-01 2025-04-30 0000830271 us-gaap:CommonStockMember 2024-11-01 2025-01-31 0000830271 us-gaap:CommonStockMember 2024-08-01 2024-10-31 0000830271 us-gaap:CommonStockMember 2024-05-01 2024-07-31 0000830271 us-gaap:CommonStockMember 2024-02-01 2024-04-30 0000830271 us-gaap:CommonStockMember 2023-11-01 2024-01-31 0000830271 us-gaap:CommonStockMember 2026-06-10 2026-06-10 shares iso4217:USD shares pure true 0000830271 N-2/A 333-295103 811-05488 N-2 true true 1 true true Amendment No. 16 16 Nuveen Municipal Income Fund, Inc. 333 West Wacker Drive Chicago IL 60606 (800) 257-8787 Mark L. Winget 333 West Wacker Drive Chicago IL 60606 From time to time after the effective date of this Registration Statement. false true true false false false false false false false true false false true No false false 10.89 9.92 10.89 9.92 12063964 10.10 9.16 9.24 11.27 11.08 11.32 10.92 11.38 11.61 11.47 9.92 10.10 9.16 9.24 11.27 11.08 11.32 10.92 11.38 11.61 10.05 9.68 8.35 8.53 11.65 11.31 11.33 10.09 11.45 12.20 <p id="xdx_800_ecef--SharePriceTableTextBlock_dU_zFrY8oBF1IT5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="nmin2a004"></span>TRADING AND NET ASSET VALUE INFORMATION</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table shows for the periods indicated: (i) the high and low sales prices for the Common Stock reported as of the end of the day on the NYSE, (ii) the corresponding NAV per share, and (iii) the premium/(discount) to NAV per share at which the Common Stock was trading as of such date. The Fund's Common Stock have historically traded both at premiums and discounts in relation to the Fund's NAV per share. The Fund cannot predict whether its Common Stock will trade at a premium or discount to NAV in the future. The Board of Directors has currently determined that, at least annually, it will consider action that might be taken to reduce or eliminate any material discount from NAV, which may include the repurchase of such shares in the open market or in private transactions, the making of a tender offer for such shares at NAV, or the conversion of the Fund to an open-end investment company. The Fund cannot assure you that its Board of Directors will decide to take any of these actions, or that share repurchases or tender offers will actually reduce market discount.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse;"> <tr style="display: none; visibility: hidden; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td id="xdx_48C_ecef--HighestPriceOrBid_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zN5Lrrw9fzw8" style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td id="xdx_484_ecef--LowestPriceOrBid_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zll5zM9sQPs2" style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td id="xdx_485_ecef--HighestPriceOrBidNav_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zWZ6OgpKtaSl" style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td id="xdx_481_ecef--LowestPriceOrBidNav_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_z2jN816LX02j" style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td id="xdx_481_ecef--HighestPriceOrBidPremiumDiscountToNavPercent_dp_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zJ3ANtRiTx4h" style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td id="xdx_486_ecef--LowestPriceOrBidPremiumDiscountToNavPercent_dp_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zLiEpSEsWF63" style="font: 10pt Times New Roman,serif; text-align: center"> </td> <td style="font: 10pt Times New Roman,serif; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td> <td style="font: bold 10pt Times New Roman,serif"> </td> <td colspan="7" style="font: bold 10pt Times New Roman,serif; text-align: center">Closing Market Price per</td> <td style="font: bold 10pt Times New Roman,serif"> </td> <td colspan="7" style="font: bold 10pt Times New Roman,serif; text-align: center">NAV per share of Common </td> <td style="font: bold 10pt Times New Roman,serif"> </td> <td colspan="7" style="font: bold 10pt Times New Roman,serif; text-align: center">Premium/(Discount) on</td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td> <td style="font: bold 10pt Times New Roman,serif; padding-bottom: 1pt"> </td> <td colspan="7" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman,serif; text-align: center">share of Common Stock</td> <td style="font: bold 10pt Times New Roman,serif; padding-bottom: 1pt"> </td> <td colspan="7" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman,serif; text-align: center">Stock on Date of Market Price</td> <td style="font: bold 10pt Times New Roman,serif; padding-bottom: 1pt"> </td> <td colspan="7" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman,serif; text-align: center">Date of Market Price</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman,serif; text-align: center">Fiscal Quarter Ended</td> <td style="font: bold 10pt Times New Roman,serif; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman,serif; text-align: center">High</td> <td style="font: bold 10pt Times New Roman,serif; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman,serif; text-align: center">Low</td> <td style="font: bold 10pt Times New Roman,serif; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman,serif; text-align: center">High</td> <td style="font: bold 10pt Times New Roman,serif; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman,serif; text-align: center">Low</td> <td style="font: bold 10pt Times New Roman,serif; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman,serif; text-align: center">High</td> <td style="font: bold 10pt Times New Roman,serif; padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman,serif; text-align: center">Low</td></tr> <tr id="xdx_41A_20260201__20260430_zsytOkbdO3H5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman,serif; width: 22%">April 2026</td> <td style="font: 10pt Times New Roman,serif; width: 1%"> </td> <td style="font: 10pt Times New Roman,serif; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; width: 10%; text-align: right">11.04</td> <td style="font: 10pt Times New Roman,serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; width: 1%"> </td> <td style="font: 10pt Times New Roman,serif; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; width: 10%; text-align: right">9.87</td> <td style="font: 10pt Times New Roman,serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; width: 1%"> </td> <td style="font: 10pt Times New Roman,serif; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; width: 10%; text-align: right">9.88</td> <td style="font: 10pt Times New Roman,serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; width: 1%"> </td> <td style="font: 10pt Times New Roman,serif; width: 1%; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; width: 10%; text-align: right">9.75</td> <td style="font: 10pt Times New Roman,serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; width: 1%"> </td> <td style="font: 10pt Times New Roman,serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; width: 10%; text-align: right">11.74</td> <td style="font: 10pt Times New Roman,serif; width: 1%; text-align: left">%</td> <td style="font: 10pt Times New Roman,serif; width: 1%"> </td> <td style="font: 10pt Times New Roman,serif; width: 1%; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; width: 10%; text-align: right">1.23</td> <td style="font: 10pt Times New Roman,serif; width: 1%; text-align: left">%</td></tr> <tr id="xdx_412_20251101__20260131_zfSf0wmfKif6" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman,serif">January 2026</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.25</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.90</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.92</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.85</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">3.33</td> <td style="font: 10pt Times New Roman,serif; text-align: left">%</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">0.51</td> <td style="font: 10pt Times New Roman,serif; text-align: left">%</td></tr> <tr id="xdx_41C_20250801__20251031_zifSEx0ql17a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman,serif">October 2025</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.08</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.64</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.86</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.59</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">2.23</td> <td style="font: 10pt Times New Roman,serif; text-align: left">%</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">0.52</td> <td style="font: 10pt Times New Roman,serif; text-align: left">%</td></tr> <tr id="xdx_418_20250501__20250731_z1SxbNw3LDek" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman,serif">July 2025</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.64</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.62</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.67</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.71</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.03</td> <td style="font: 10pt Times New Roman,serif; text-align: left">%</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">(0.93</td> <td style="font: 10pt Times New Roman,serif; text-align: left">)%</td></tr> <tr id="xdx_41A_20250201__20250430_zSS0AZIpN6N9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman,serif">April 2025</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.96</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.40</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.14</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.51</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">(1.78</td> <td style="font: 10pt Times New Roman,serif; text-align: left">)%</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">(1.16</td> <td style="font: 10pt Times New Roman,serif; text-align: left">)%</td></tr> <tr id="xdx_419_20241101__20250131_z6hsR6J0ynJ7" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman,serif">January 2025</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.83</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.37</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.07</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.01</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">(2.38</td> <td style="font: 10pt Times New Roman,serif; text-align: left">)%</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">(6.39</td> <td style="font: 10pt Times New Roman,serif; text-align: left">)%</td></tr> <tr id="xdx_41F_20240801__20241031_zJEEYMHUz5fa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman,serif">October 2024</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.26</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.67</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.24</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.11</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">0.20</td> <td style="font: 10pt Times New Roman,serif; text-align: left">%</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">(4.35</td> <td style="font: 10pt Times New Roman,serif; text-align: left">)%</td></tr> <tr id="xdx_411_20240501__20240731_zceG8K5tjN6" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman,serif">July 2024</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.07</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.18</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.12</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.89</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">(0.49</td> <td style="font: 10pt Times New Roman,serif; text-align: left">)%</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">(7.18</td> <td style="font: 10pt Times New Roman,serif; text-align: left">)%</td></tr> <tr id="xdx_413_20240201__20240430_zYikJAAWu38e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman,serif">April 2024</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.47</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.11</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.03</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.91</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">(5.58</td> <td style="font: 10pt Times New Roman,serif; text-align: left">)%</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">(8.07</td> <td style="font: 10pt Times New Roman,serif; text-align: left">)%</td></tr> <tr id="xdx_410_20231101__20240131_zZ0adrTHcWJ4" style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman,serif">January 2024</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.42</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">8.44</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">10.04</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left">$</td> <td style="font: 10pt Times New Roman,serif; text-align: right">9.19</td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">(6.18</td> <td style="font: 10pt Times New Roman,serif; text-align: left">)%</td> <td style="font: 10pt Times New Roman,serif"> </td> <td style="font: 10pt Times New Roman,serif; text-align: left"> </td> <td style="font: 10pt Times New Roman,serif; text-align: right">(8.16</td> <td style="font: 10pt Times New Roman,serif; text-align: left">)%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The net asset value per share of Common Stock, the market price, and percentage of premium/(discount) to net asset value per share of Common Stock on June 3, 2026 was $<span id="xdx_908_eus-gaap--NetAssetValuePerShare_iI_d0_c20260603__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zIwkOoE1LXKj">9.92</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, $<span id="xdx_90E_eus-gaap--SharePrice_iI_d0_c20260603__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zVUDkiA58MFh">10.89</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and <span id="xdx_90B_ecef--LatestPremiumDiscountToNavPercent_dp0_c20260603__20260603__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zO8Psulgv0vl">9.78</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%, respectively. As of June 3, 2026, the Fund had <span id="xdx_907_ecef--OutstandingSecurityNotHeldShares_d0_c20260603__20260603__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zBOAPJKOgLp9">12,063,964</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares of Common Stock outstanding and net assets of $119,700,217 applicable to Common Stock.</span></p> 11.04 9.87 9.88 9.75 0.1174 0.0123 10.25 9.90 9.92 9.85 0.0333 0.0051 10.08 9.64 9.86 9.59 0.0223 0.0052 10.64 9.62 9.67 9.71 0.1003 -0.0093 9.96 9.40 10.14 9.51 -0.0178 -0.0116 9.83 9.37 10.07 10.01 -0.0238 -0.0639 10.26 9.67 10.24 10.11 0.0020 -0.0435 10.07 9.18 10.12 9.89 -0.0049 -0.0718 9.47 9.11 10.03 9.91 -0.0558 -0.0807 9.42 8.44 10.04 9.19 -0.0618 -0.0816 9.92 10.89 0.0978 12063964 <p id="xdx_808_ecef--OutstandingSecuritiesTableTextBlock_dU_zocLNYrnNoPa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following provides information about the Fund’s outstanding shares of Common Stock as of June 3, 2026:</span> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td> <td> </td> <td colspan="2"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Title of Class</b></span> </p></td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amount</b><br/> <b>Authorized</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p></td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amount Held</b><br/> <b>by the Fund or</b><br/> <b>for its Account</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Amount</b><br/> <b>Outstanding</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></td> <td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 55%; text-align: left"><span id="xdx_90F_ecef--OutstandingSecurityTitleTextBlock_c20260603__20260603__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zWKJjgFjGEFj">Common Stock</span></td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 12%; text-align: right"><span id="xdx_900_ecef--OutstandingSecurityAuthorizedShares_c20260603__20260603__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zNDVHFz9mmW7">200,000,000</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 12%; text-align: right"><span id="xdx_900_ecef--OutstandingSecurityHeldShares_c20260603__20260603__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_z0bC1L8Nxy05">0</span></td> <td style="width: 1%; text-align: left"> </td> <td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td> <td style="width: 12%; text-align: right"><span id="xdx_908_ecef--OutstandingSecurityNotHeldShares_c20260603__20260603__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_ztC2iUReuxV">12,063,964</span></td> <td style="width: 1%; text-align: left"> </td></tr> </table> Common Stock 200000000 0 12063964 <p id="xdx_807_ecef--InvestmentObjectivesAndPracticesTextBlock_dU_zN9uqh4cHqsi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investment Objective and Policies</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please refer to the section of the Fund’s most recent <a href="http://www.sec.gov/ix?doc=/Archives/edgar/data/0000830271/000119312526006426/d31186dncsr.htm">annual report</a> on Form N-CSR entitled “Shareholder Update—Current Investment Objectives, Investment Policies and Principal Risks of the Funds—Investment Objective” and “—Investment Policies,” as such investment objective and investment policies may be supplemented from time to time, which is incorporated by reference herein, for a discussion of the Fund’s investment objective and policies.</span></p> <p id="xdx_80E_ecef--RiskFactorsTableTextBlock_dU_zlF6ASghQr63" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><span id="nmin2a009"></span><span style="font-size: 10pt"><b>RISK FACTORS</b></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 244pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk is inherent in all investing. Investing in any investment company security involves risk, including the risk that you may receive little or no return on your investment or even that you may lose part or all of your investment. Please refer to the section of the Fund’s most recent <a href="http://www.sec.gov/ix?doc=/Archives/edgar/data/0000830271/000119312526006426/d31186dncsr.htm">annual report</a> on Form N-CSR entitled “Shareholder Update—Current Investment Objectives, Investment Policies and Principal Risks of the Funds—Principal Risks of the Funds,” as such principal risks may be supplemented from time to time, which is incorporated by reference herein, for a discussion of the principal risks you should consider before making an investment in the Fund. Any additional risks applicable to a particular offering of Securities will be set forth in the related prospectus supplement.</span></p> <p id="xdx_80C_ecef--CapitalStockTableTextBlock_dU_z32YO6RlBb8l" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif"><span id="nmin2a015"></span><span style="font-size: 10pt"><b>DESCRIPTION OF SHARES</b></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 222pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common Stock</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Articles authorize the issuance of 200,000,000 shares of Common Stock. The shares of Common Stock have a par value of $0.01 per share and have equal rights to the payment of dividends and the distribution of assets upon liquidation. The shares of Common Stock, when issued, are fully paid and, subject to matters discussed in “Certain Provisions in the Articles of Incorporation and By-Laws,” non-assessable, and have no preemptive, conversion rights, except as the Board of Directors may authorize from time to time, or rights to cumulative voting. A copy of the Articles is filed with the SEC as an exhibit to the Fund's registration statement of which this Prospectus is a part.<span id="xdx_909_ecef--SecurityVotingRightsTextBlock_c20260610__20260610__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zczvX91le0Pk"> Each whole share of Common Stock has one vote with respect to matters submitted for a vote by the Fund’s shareholders of Common Stock and on which the shareholder is entitled to vote, and each fractional share shall be entitled to a proportional fractional vote consistent with the requirements of the 1940 Act and the rules promulgated thereunder, and will vote together as a single class.</span> <span id="xdx_901_ecef--SecurityDividendsTextBlock_c20260610__20260610__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zgGIotZrI7Ia">Whenever the Fund incurs borrowings (in accordance with its fundamental investment policies), shareholders of Common Stock will not be entitled to receive any cash distributions from the Fund unless all interest on such borrowings has been paid and asset coverage (as defined in the 1940 Act) with respect to any borrowings would be at least 300% after giving effect to the distributions.</span> As previously noted, unless otherwise approved by shareholders, the Fund will not issue senior securities such as preferred shares or debt instruments. However, if the Fund issues preferred shares, shareholders of Common Stock will not be entitled to receive any cash distributions from the Fund unless all accrued dividends on preferred shares have been paid, and unless asset coverage (as defined in the 1940 Act) with respect to preferred shares would be at least 200% after giving effect to the distributions. See “—Other Shares” below.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The shares of Common Stock are listed on the NYSE and trade under the symbol “NMI.” The Fund intends to hold annual meetings of shareholders so long as the Common Stock is listed on a national securities exchange and such meetings are required as a condition to such listing. The Fund does not issue share certificates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unlike open-end funds, closed-end funds like the Fund do not provide daily redemptions. Rather, if a shareholder determines to buy additional shares of Common Stock or sell shares already held, the shareholder may conveniently do so by trading on the exchange through a broker or otherwise. Shares of closed-end investment companies may frequently trade on an exchange at prices lower than NAV. Common shares of closed-end investment companies like the Fund have during some periods traded at prices higher than NAV have, during other periods, traded at prices lower than NAV.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because the market value of the shares of Common Stock may be influenced by such factors as distribution levels (which are in turn affected by expenses), call protection, dividend stability, portfolio credit quality, NAV, relative demand for and supply of such shares in the market, general market and economic conditions, and other factors beyond the control of the Fund, the Fund cannot assure you that shares of Common Stock will trade at a price equal to or higher than NAV in the future. The Common Stock is designed primarily for long-term investors, and investors in the Common Stock should not view the Fund as a vehicle for trading purposes. See “Repurchase of Fund Shares; Conversion to Open-End Fund.”</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: 21.85pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Other Shares</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As previously noted, as a fundamental investment policy, the Fund will not issue senior securities such as preferred shares or debt instruments without the approval of shareholders of Common Stock. For additional information, see the SAI under “Description of Shares—No Preferred Shares.”</span></p> Each whole share of Common Stock has one vote with respect to matters submitted for a vote by the Fund’s shareholders of Common Stock and on which the shareholder is entitled to vote, and each fractional share shall be entitled to a proportional fractional vote consistent with the requirements of the 1940 Act and the rules promulgated thereunder, and will vote together as a single class. Whenever the Fund incurs borrowings (in accordance with its fundamental investment policies), shareholders of Common Stock will not be entitled to receive any cash distributions from the Fund unless all interest on such borrowings has been paid and asset coverage (as defined in the 1940 Act) with respect to any borrowings would be at least 300% after giving effect to the distributions.