Nuveen Select Maturities Municipal Fund (NYSE:NIM) Short Interest Up 109.0% in July

Key Points

• Nuveen Select Maturities Municipal Fund's short interest surged by 109.0% in July, increasing to 18,600 shares from 8,900 shares at the end of June.
• The fund recently announced a monthly dividend of $0.0275 per share, payable on September 2nd, representing a 3.6% dividend yield.
• 32.23% of the fund's shares are currently owned by institutional investors, indicating growing institutional interest in the fund.

Nuveen Select Maturities Municipal Fund (NYSE:NIM - ) saw a significant increase in short interest in July. As of July 15th, there was short interest totaling 18,600 shares, anincreaseof109.0% from the June 30th total of 8,900 shares. Based on an average daily trading volume, of 26,400 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily trading volume, of 26,400 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of Nuveen Select Maturities Municipal Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. South Plains Financial Inc. bought a new stake in Nuveen Select Maturities Municipal Fund during the 4th quarter worth about $37,000. IFP Advisors Inc raised its holdings in Nuveen Select Maturities Municipal Fund by 38.1% during the 1st quarter. IFP Advisors Inc now owns 9,601 shares of the company's stock worth $89,000 after purchasing an additional 2,647 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in Nuveen Select Maturities Municipal Fund during the 1st quarter worth about $132,000. Ancora Advisors LLC raised its holdings in Nuveen Select Maturities Municipal Fund by 725.0% during the 4th quarter. Ancora Advisors LLC now owns 18,207 shares of the company's stock worth $159,000 after purchasing an additional 16,000 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Nuveen Select Maturities Municipal Fund by 16.6% during the 4th quarter. Ameriprise Financial Inc. now owns 21,050 shares of the company's stock worth $183,000 after purchasing an additional 3,000 shares during the last quarter. 32.23% of the stock is currently owned by institutional investors and hedge funds.

Nuveen Select Maturities Municipal Fund Stock Performance

Shares of NYSE:NIM traded down $0.01 during midday trading on Tuesday, reaching $9.12. The company's stock had a trading volume of 2,758 shares, compared to its average volume of 29,706. Nuveen Select Maturities Municipal Fund has a fifty-two week low of $8.60 and a fifty-two week high of $9.64. The business's fifty day simple moving average is $9.05 and its 200-day simple moving average is $9.09.

Nuveen Select Maturities Municipal Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be paid a $0.0275 dividend. The ex-dividend date is Friday, August 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%.

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.

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