Nuveen Select Maturities Municipal Fund (NYSE:NIM) Shares Down 0.1% - Here's What Happened

Key Points

• The Nuveen Select Maturities Municipal Fund's share price decreased by 0.1% during trading, with recent transactions showing significantly increased volume.
• The fund recently declared a monthly dividend of $0.029, up from its previous monthly dividend of $0.03, representing an annual yield of 3.7%.
• Institutional investors have shown increased interest, with several firms boosting their holdings in the fund during recent quarters, resulting in 32.23% of the stock being owned by institutional investors.

Nuveen Select Maturities Municipal Fund (NYSE:NIM - )'s share price traded down 0.1% during trading on Thursday . The stock traded as low as $9.21 and last traded at $9.31. 34,516 shares traded hands during mid-day trading, an increase of 99% from the average session volume of 17,371 shares. The stock had previously closed at $9.31.

Nuveen Select Maturities Municipal Fund Price Performance

The stock's fifty day simple moving average is $9.13 and its two-hundred day simple moving average is $9.12.

Nuveen Select Maturities Municipal Fund Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.029 dividend. This represents a c) annualized dividend and a yield of 3.7%. This is a positive change from Nuveen Select Maturities Municipal Fund's previous monthly dividend of $0.03. The ex-dividend date is Monday, September 15th.

Institutional Investors Weigh In On Nuveen Select Maturities Municipal Fund

Several large investors have recently modified their holdings of NIM. Schwarz Dygos Wheeler Investment Advisors LLC lifted its holdings in shares of Nuveen Select Maturities Municipal Fund by 3.7% during the second quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 39,945 shares of the company's stock valued at $362,000 after purchasing an additional 1,421 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in 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 valued at $151,000 after buying an additional 2,500 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Nuveen Select Maturities Municipal Fund by 38.1% in the first quarter. IFP Advisors Inc now owns 9,601 shares of the company's stock worth $89,000 after buying an additional 2,647 shares during the period. Uhlmann Price Securities LLC increased its position in shares of Nuveen Select Maturities Municipal Fund by 3.8% in the second quarter. Uhlmann Price Securities LLC now owns 78,981 shares of the company's stock worth $716,000 after acquiring an additional 2,914 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Nuveen Select Maturities Municipal Fund by 16.6% during the fourth quarter. Ameriprise Financial Inc. now owns 21,050 shares of the company's stock valued at $183,000 after acquiring an additional 3,000 shares during the period. 32.23% of the stock is owned by institutional investors.

About Nuveen Select Maturities Municipal Fund

Nuveen Select Maturities Municipal Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund invests primarily in municipal securities rated Baa/BBB or better.

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