Nuveen Select Maturities Municipal Fund (NYSE:NIM) Shares Up 0.3% – Here’s Why

Nuveen Select Maturities Municipal Fund (NYSE:NIM)’s share price shot up 0.3% during mid-day trading on Thursday . The stock traded as high as $9.42 and last traded at $9.38. 23,656 shares changed hands during mid-day trading, an increase of 65% from the average daily volume of 14,372 shares. The stock had previously closed at $9.35.

Nuveen Select Maturities Municipal Fund Stock Performance

The stock’s 50-day moving average price is $9.32 and its 200 day moving average price is $9.44.

Nuveen Select Maturities Municipal Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.029 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP purchased a new position in Nuveen Select Maturities Municipal Fund during the third quarter valued at approximately $93,000. Sightline Wealth Advisors LLC grew its stake in Nuveen Select Maturities Municipal Fund by 21.1% in the fourth quarter. Sightline Wealth Advisors LLC now owns 14,715 shares of the company’s stock valued at $137,000 after purchasing an additional 2,563 shares during the last quarter. Sax Wealth Advisors LLC purchased a new stake in shares of Nuveen Select Maturities Municipal Fund during the fourth quarter valued at about $170,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Nuveen Select Maturities Municipal Fund in the 4th quarter worth approximately $197,000. Finally, Ackerman Capital Advisors LLC lifted its position in Nuveen Select Maturities Municipal Fund by 18.8% during the fourth quarter. Ackerman Capital Advisors LLC now owns 24,401 shares of the company’s stock valued at $227,000 after acquiring an additional 3,861 shares during the last quarter. 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.