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

Nuveen Select Maturities Municipal Fund (NYSE:NIM) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totaling 10,068 shares, a decline of 42.8% from the September 30th total of 17,587 shares. Based on an average trading volume of 41,553 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are sold short.

Nuveen Select Maturities Municipal Fund Trading Up 1.5%

NIM traded up $0.14 during trading on Friday, hitting $9.26. 17,676 shares of the stock were exchanged, compared to its average volume of 41,880. The firm has a 50 day simple moving average of $8.98 and a 200 day simple moving average of $9.31. Nuveen Select Maturities Municipal Fund has a 1 year low of $8.46 and a 1 year high of $9.94.

Nuveen Select Maturities Municipal Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be given a dividend of $0.0290 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 3.8%.

Hedge Funds Weigh In On Nuveen Select Maturities Municipal Fund

Several institutional investors have recently bought and sold shares of the business. Blake Schutter Theil Wealth Advisors LLC lifted its holdings in Nuveen Select Maturities Municipal Fund by 13.0% during the first 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 period. Bank of America Corp DE raised its stake in Nuveen Select Maturities Municipal Fund by 1.1% in the 1st quarter. Bank of America Corp DE now owns 146,467 shares of the company’s stock worth $1,384,000 after acquiring an additional 1,552 shares during the last quarter. Royal Bank of Canada increased its holdings in Nuveen Select Maturities Municipal Fund by 5.3% in the 1st quarter. Royal Bank of Canada now owns 114,492 shares of the company’s stock worth $1,081,000 after buying an additional 5,802 shares during the period. Stephens Inc. AR grew its position in Nuveen Select Maturities Municipal Fund by 6.4% during the 1st quarter. Stephens Inc. AR now owns 41,500 shares of the company’s stock worth $392,000 after purchasing an additional 2,500 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in Nuveen Select Maturities Municipal Fund by 22.1% in the second quarter. Envestnet Asset Management Inc. now owns 31,692 shares of the company’s stock valued at $299,000 after acquiring an additional 5,731 shares during the period. 32.23% of the stock is owned by hedge funds and other institutional investors.

About Nuveen Select Maturities Municipal Fund

Nuveen Select Maturities Municipal Fund (NYSE: NIM) is a closed-end investment company managed by Nuveen Asset Management, an investment manager within the TIAA organization. The fund is designed for investors seeking income that is generally exempt from regular federal income tax.

NIM invests primarily in a diversified portfolio of municipal bonds and other municipal obligations issued by states, cities, counties, territories, and related public entities in the United States. Its portfolio emphasizes securities with relatively short to intermediate maturities, which can provide exposure to the municipal bond market while seeking to manage interest-rate sensitivity.

The fund’s investments may support public-sector activities such as schools, transportation systems, utilities, healthcare facilities, and other community infrastructure.