Nuveen Select Maturities Municipal Fund (NYSE:NIM) Sees Significant Decrease in Short Interest

Nuveen Select Maturities Municipal Fund (NYSE:NIM) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 11,200 shares, a decrease of 48.9% from the March 15th total of 21,900 shares. Based on an average daily volume of 32,900 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NIM. South Plains Financial Inc. bought a new position in Nuveen Select Maturities Municipal Fund in the 4th quarter valued at $37,000. Independent Advisor Alliance bought a new position in shares of Nuveen Select Maturities Municipal Fund during the 4th quarter valued at about $131,000. Ancora Advisors LLC raised its position in Nuveen Select Maturities Municipal Fund by 725.0% in the 4th quarter. Ancora Advisors LLC now owns 18,207 shares of the company’s stock worth $159,000 after purchasing an additional 16,000 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Nuveen Select Maturities Municipal Fund by 16.6% in the fourth quarter. Ameriprise Financial Inc. now owns 21,050 shares of the company’s stock worth $183,000 after buying an additional 3,000 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in Nuveen Select Maturities Municipal Fund in the fourth quarter valued at approximately $192,000. 32.23% of the stock is owned by institutional investors.

Nuveen Select Maturities Municipal Fund Stock Down 0.8 %

Shares of NYSE:NIM traded down $0.07 during trading on Wednesday, hitting $9.16. 14,359 shares of the company were exchanged, compared to its average volume of 32,063. Nuveen Select Maturities Municipal Fund has a 1-year low of $8.60 and a 1-year high of $9.64. The business’s 50 day moving average is $9.15 and its 200-day moving average is $9.05.

Nuveen Select Maturities Municipal Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.0275 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.33 annualized dividend and a yield of 3.60%.

Nuveen Select Maturities Municipal Fund Company Profile

Nuveen Select Maturities Municipal Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund invests primarily in municipal securities rated Baa/BBB or better.