Nuveen Select Maturities Municipal Fund (NYSE:NIM) Trading 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.

Shares of Nuveen Select Maturities Municipal Fund (NYSE:NIM - Get Free Report) traded down 0.1% during trading on Thursday . The company traded as low as $9.21 and last traded at $9.31. 34,516 shares traded hands during 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 Trading Up 0.1%

The business has a fifty day moving average price of $9.15 and a 200 day moving average price of $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. Stockholders of record on Monday, September 15th will be issued a dividend of $0.029 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Nuveen Select Maturities Municipal Fund's previous monthly dividend of $0.03. The ex-dividend date is Monday, September 15th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Schwarz Dygos Wheeler Investment Advisors LLC raised its stake in shares of Nuveen Select Maturities Municipal Fund by 3.7% in 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 in the last quarter. Stratos Wealth Partners LTD. increased its holdings in Nuveen Select Maturities Municipal Fund by 17.6% in the 2nd 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 during the period. IFP Advisors Inc increased its holdings in Nuveen Select Maturities Municipal Fund by 38.1% in the 1st quarter. IFP Advisors Inc now owns 9,601 shares of the company's stock valued at $89,000 after buying an additional 2,647 shares during the period. Uhlmann Price Securities LLC increased its holdings in Nuveen Select Maturities Municipal Fund by 3.8% in the 2nd quarter. Uhlmann Price Securities LLC now owns 78,981 shares of the company's stock valued at $716,000 after buying an additional 2,914 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Nuveen Select Maturities Municipal Fund by 16.6% in the 4th quarter. Ameriprise Financial Inc. now owns 21,050 shares of the company's stock valued at $183,000 after buying an additional 3,000 shares during the period. 32.23% of the stock is currently owned by institutional investors and hedge funds.

Nuveen Select Maturities Municipal Fund Company Profile

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.