Short Interest in Nuveen Select Maturities Municipal Fund (NYSE:NIM) Increases By 109.0%

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 - Get Free Report) was the recipient of 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 short-interest ratio is currently 0.7 days. Based on an average daily trading volume, of 26,400 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On Nuveen Select Maturities Municipal Fund

Several institutional investors have recently bought and sold shares of NIM. South Plains Financial Inc. purchased a new position in Nuveen Select Maturities Municipal Fund during the 4th quarter valued at about $37,000. IFP Advisors Inc boosted its holdings in shares of 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 in the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Nuveen Select Maturities Municipal Fund in the 1st quarter valued at about $132,000. Ancora Advisors LLC boosted its holdings in shares of Nuveen Select Maturities Municipal Fund by 725.0% in the 4th quarter. Ancora Advisors LLC now owns 18,207 shares of the company's stock valued at $159,000 after buying an additional 16,000 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of 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 in the last quarter. Institutional investors own 32.23% of the company's stock.

Nuveen Select Maturities Municipal Fund Trading Down 0.2%

Shares of NYSE NIM traded down $0.02 during midday trading on Friday, hitting $9.13. The stock had a trading volume of 7,910 shares, compared to its average volume of 22,402. The business's 50 day moving average is $9.06 and its 200-day moving average is $9.10. Nuveen Select Maturities Municipal Fund has a 52 week low of $8.60 and a 52 week high of $9.64.

Nuveen Select Maturities Municipal Fund Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, August 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%.

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.