Nuveen Dividend Advantage Municipal Fund to Issue Monthly Dividend of $0.06 (NAD)
Nuveen Dividend Advantage Municipal Fund (NYSE:NAD) declared a monthly dividend on Thursday, November 2nd, Wall Street Journal reports. Shareholders of record on Wednesday, November 15th will be given a dividend of 0.06 per share by the financial services provider on Friday, December 1st. This represents a $0.72 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Tuesday, November 14th.
Nuveen Dividend Advantage Municipal Fund has decreased its dividend by an average of 3.3% annually over the last three years.
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An institutional investor recently raised its position in Nuveen Dividend Advantage Municipal Fund stock. The Manufacturers Life Insurance Company boosted its position in Nuveen Dividend Advantage Municipal Fund (NYSE:NAD) by 5,157.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,939 shares of the financial services provider’s stock after acquiring an additional 7,788 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Nuveen Dividend Advantage Municipal Fund were worth $111,000 at the end of the most recent reporting period.
Nuveen Dividend Advantage Municipal Fund Company Profile
Nuveen Quality Municipal Income Fund is a diversified, closed-end management investment company. The Fund seeks to provide current income exempt from regular federal income tax and to enhance portfolio value. The Fund invests in municipal securities that are exempt from federal income taxes. The Fund’s portfolio of investments includes investments in various sectors, such as transportation, healthcare, tax obligation/limited, the United States guaranteed, tax obligation/general, utilities, education and civic organizations, water and sewer, consumer staples, industrials and other.
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