Nuveen Select Maturities Municipal Fund (NYSE:NIM) Stock Price Down 0.4% – Should You Sell?

Nuveen Select Maturities Municipal Fund (NYSE:NIM)’s stock price dropped 0.4% during mid-day trading on Tuesday . The company traded as low as $9.22 and last traded at $9.2650. Approximately 33,987 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 24,821 shares. The stock had previously closed at $9.30.

Nuveen Select Maturities Municipal Fund Stock Down 0.1%

The firm has a fifty day simple moving average of $9.32 and a 200 day simple moving average of $9.21.

Nuveen Select Maturities Municipal Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $0.029 dividend. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, December 15th.

Hedge Funds Weigh In On Nuveen Select Maturities Municipal Fund

A number of large investors have recently bought and sold shares of NIM. Susquehanna International Group LLP purchased a new stake in Nuveen Select Maturities Municipal Fund during the third quarter valued at about $93,000. UBS Group AG raised its holdings in Nuveen Select Maturities Municipal Fund by 1.8% in the third quarter. UBS Group AG now owns 173,515 shares of the company’s stock valued at $1,607,000 after buying an additional 3,087 shares during the period. Uhlmann Price Securities LLC grew its stake in Nuveen Select Maturities Municipal Fund by 4.2% during the third quarter. Uhlmann Price Securities LLC now owns 82,287 shares of the company’s stock worth $762,000 after buying an additional 3,306 shares during the period. Whipplewood Advisors LLC increased its position in shares of Nuveen Select Maturities Municipal Fund by 4.3% in the third quarter. Whipplewood Advisors LLC now owns 153,172 shares of the company’s stock worth $1,418,000 after acquiring an additional 6,376 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Nuveen Select Maturities Municipal Fund by 9.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 383,038 shares of the company’s stock valued at $3,528,000 after acquiring an additional 33,727 shares during the period. Hedge funds and other institutional investors own 32.23% of the company’s stock.

Nuveen Select Maturities Municipal Fund Company Profile

Nuveen Select Maturities Municipal Fund (NYSE: NIM) is a diversified, closed-end management investment company managed by Nuveen Asset Management, a subsidiary of TIAA. Launched in January 2012, the fund seeks to provide shareholders with tax-exempt income by investing primarily in a broad range of municipal securities. Its portfolio is structured around a laddered maturity approach, which aims to balance yield opportunities with interest rate risk management across various maturity segments.

The fund’s investment strategy focuses on acquiring investment-grade and high-yield municipal bonds issued by state and local governments across the United States.