Nuveen Select Maturities Municipal Fund (NYSE:NIM) Shares Down 1.7% – Time to Sell?
by Tristan Rich · The Markets DailyNuveen Select Maturities Municipal Fund (NYSE:NIM – Get Free Report)’s share price traded down 1.7% on Wednesday . The company traded as low as $8.79 and last traded at $8.8350. Approximately 41,889 shares traded hands during trading, an increase of 71% from the average session volume of 24,464 shares. The stock had previously closed at $8.99.
Nuveen Select Maturities Municipal Fund Stock Down 1.7%
The firm has a 50 day simple moving average of $9.23 and a two-hundred day simple moving average of $9.34.
Nuveen Select Maturities Municipal Fund Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $0.029 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 3.9%.
Hedge Funds Weigh In On Nuveen Select Maturities Municipal Fund
A number of hedge funds and other institutional investors have recently bought and sold shares of NIM. Blake Schutter Theil Wealth Advisors LLC raised its position in Nuveen Select Maturities Municipal Fund by 13.0% during the 1st quarter. Blake Schutter Theil Wealth Advisors LLC now owns 181,427 shares of the company’s stock worth $1,714,000 after buying an additional 20,878 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Nuveen Select Maturities Municipal Fund by 1.1% in the first quarter. Bank of America Corp DE now owns 146,467 shares of the company’s stock valued at $1,384,000 after acquiring an additional 1,552 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Nuveen Select Maturities Municipal Fund by 5.3% during the first quarter. Royal Bank of Canada now owns 114,492 shares of the company’s stock worth $1,081,000 after acquiring an additional 5,802 shares during the period. Uhlmann Price Securities LLC increased its stake in shares of Nuveen Select Maturities Municipal Fund by 6.7% during the first quarter. Uhlmann Price Securities LLC now owns 92,138 shares of the company’s stock worth $871,000 after acquiring an additional 5,809 shares during the period. Finally, Stephens Inc. AR raised its holdings in Nuveen Select Maturities Municipal Fund by 6.4% during the first quarter. Stephens Inc. AR now owns 41,500 shares of the company’s stock worth $392,000 after purchasing an additional 2,500 shares in the last quarter. 32.23% of the stock is currently owned by hedge funds and other institutional investors.
About Nuveen Select Maturities Municipal Fund
Nuveen Select Maturities Municipal Fund is a closed-end fund listed on the New York Stock Exchange under the symbol NIM. The fund is managed by Nuveen, an asset manager specializing in investment solutions, and is designed to provide investors with exposure to the U.S. municipal bond market.
The fund invests primarily in municipal securities issued by states, municipalities and other public entities throughout the United States. These securities may help finance public infrastructure and services such as schools, transportation systems, utilities and hospitals.