Nuveen Select Maturities Municipal Fund (NYSE:NIM) Shares Down 0.4% – Here’s Why

Shares of Nuveen Select Maturities Municipal Fund (NYSE:NIM) dropped 0.4% during trading on Tuesday . The stock traded as low as $9.22 and last traded at $9.2650. Approximately 33,987 shares were traded during mid-day trading, an increase of 37% from the average daily volume of 24,821 shares. The stock had previously closed at $9.30.

Nuveen Select Maturities Municipal Fund Stock Performance

The company has a 50-day moving average of $9.33 and a 200-day moving average of $9.21.

Nuveen Select Maturities Municipal Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.029 dividend. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, December 15th.

Institutional Trading of Nuveen Select Maturities Municipal Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in Nuveen Select Maturities Municipal Fund by 9.1% in the first quarter. Royal Bank of Canada now owns 85,021 shares of the company’s stock valued at $792,000 after purchasing an additional 7,101 shares during the last quarter. 1607 Capital Partners LLC increased its holdings in Nuveen Select Maturities Municipal Fund by 0.8% during the 1st quarter. 1607 Capital Partners LLC now owns 1,029,818 shares of the company’s stock worth $9,598,000 after purchasing an additional 8,286 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Nuveen Select Maturities Municipal Fund by 65.6% during the 2nd quarter. IFP Advisors Inc now owns 15,898 shares of the company’s stock valued at $144,000 after buying an additional 6,297 shares during the last quarter. Croban boosted its stake in shares of Nuveen Select Maturities Municipal Fund by 4.9% during the 2nd quarter. Croban now owns 93,517 shares of the company’s stock valued at $847,000 after buying an additional 4,352 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its position in shares of Nuveen Select Maturities Municipal Fund by 17.6% during the second quarter. Stratos Wealth Partners LTD. now owns 16,700 shares of the company’s stock worth $151,000 after buying an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 32.23% of the company’s stock.

About Nuveen Select Maturities Municipal Fund

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.