Nuveen Select Maturities Municipal Fund (NYSE:NIM) Declares Monthly Dividend of $0.03

Key Points

• Nuveen Select Maturities Municipal Fund declared a monthly dividend of $0.029 per share, payable November 2 to shareholders of record on October 15. The annualized payout is approximately $0.35 per share, representing a 4.0% yield.
• NIM shares opened at $8.71 and were up 0.1%, trading below their 50-day and 200-day moving averages. The fund’s 52-week trading range is $8.46 to $9.94.
• Institutional investors and hedge funds own 32.23% of the fund, with several large holders increasing their positions recently. NIM is a Nuveen-managed closed-end fund investing primarily in U.S. municipal securities.

Nuveen Select Maturities Municipal Fund (NYSE:NIM - Get Free Report) declared a monthly dividend on Thursday, October 1st. Stockholders of record on Thursday, October 15th will be given a dividend of $0.0290 per share on Monday, November 2nd. This represents a $0.35 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, October 15th.

Nuveen Select Maturities Municipal Fund Trading Up 0.1%

Shares of NIM opened at $8.71 on Friday. The firm has a 50-day moving average price of $9.15 and a 200 day moving average price of $9.29. Nuveen Select Maturities Municipal Fund has a 52-week low of $8.46 and a 52-week high of $9.94.

Institutional Investors Weigh In On Nuveen Select Maturities Municipal Fund

Large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. increased 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 worth $299,000 after purchasing an additional 5,731 shares in the last quarter. Bank of America Corp DE grew its holdings in Nuveen Select Maturities Municipal Fund by 1.1% during the 1st quarter. Bank of America Corp DE now owns 146,467 shares of the company's stock valued at $1,384,000 after buying an additional 1,552 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Nuveen Select Maturities Municipal Fund by 5.3% during the 1st quarter. Royal Bank of Canada now owns 114,492 shares of the company's stock worth $1,081,000 after acquiring an additional 5,802 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC raised its position in Nuveen Select Maturities Municipal Fund by 13.0% in the 1st quarter. Blake Schutter Theil Wealth Advisors LLC now owns 181,427 shares of the company's stock worth $1,714,000 after purchasing an additional 20,878 shares during the period. Finally, Stephens Inc. AR grew its holdings in Nuveen Select Maturities Municipal Fund by 6.4% in the 1st quarter. Stephens Inc. AR now owns 41,500 shares of the company's stock worth $392,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 32.23% of the company's stock.

Nuveen Select Maturities Municipal Fund Company Profile

Nuveen Select Maturities Municipal Fund is a closed-end fund listed on the New York Stock Exchange under the symbol NIM. The fund is managed by Nuveen, an asset manager specializing in investment solutions, and is designed to provide investors with exposure to the U.S. municipal bond market.

The fund invests primarily in municipal securities issued by states, municipalities and other public entities throughout the United States. These securities may help finance public infrastructure and services such as schools, transportation systems, utilities and hospitals.

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