Nuveen Dividend Advantage Municipal Fund (NAD) to Issue $0.06 Monthly Dividend

Nuveen Dividend Advantage Municipal Fund (NYSE:NAD) declared a monthly dividend on Monday, February 5th, Wall Street Journal reports. Stockholders of record on Thursday, February 15th will be paid a dividend of 0.0575 per share by the financial services provider on Thursday, March 1st. This represents a $0.69 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend is Wednesday, February 14th.

Nuveen Dividend Advantage Municipal Fund has decreased its dividend payment by an average of 5.2% per year over the last three years.

Shares of Nuveen Dividend Advantage Municipal Fund (NYSE:NAD) traded down $0.03 during trading on Monday, hitting $13.25. The stock had a trading volume of 824,853 shares, compared to its average volume of 555,411. Nuveen Dividend Advantage Municipal Fund has a fifty-two week low of $13.17 and a fifty-two week high of $14.46.

In related news, insider Gifford R. Zimmerman bought 2,000 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were acquired at an average cost of $13.70 per share, for a total transaction of $27,400.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

An institutional investor recently raised its position in Nuveen Dividend Advantage Municipal Fund stock. The Manufacturers Life Insurance Company lifted its stake in shares of Nuveen Dividend Advantage Municipal Fund (NYSE:NAD) by 5,157.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,939 shares of the financial services provider’s stock after purchasing 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 as of its most recent SEC filing.

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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.

Dividend History for Nuveen Dividend Advantage Municipal Fund (NYSE:NAD)

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