Nuveen Select Maturities Municipal Fund (NYSE:NIM) Stock Price Down 0.3% - What's Next?

Key Points

• Nuveen Select Maturities Municipal Fund's stock price decreased by 0.3%, trading between $9.08 and $9.10 with a volume decline of 35% from its average daily volume.
• The fund announced a monthly dividend of $0.0275 per share, representing an annualized yield of 3.6%, payable to investors of record on August 15th.
• Several institutional investors, including Schwarz Dygos Wheeler Investment Advisors and Stratos Wealth Partners, have increased their holdings in Nuveen Select Maturities Municipal Fund during the second quarter.

Nuveen Select Maturities Municipal Fund (NYSE:NIM - )'s share price dropped 0.3% during mid-day trading on Wednesday . The company traded as low as $9.08 and last traded at $9.10. Approximately 11,893 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 18,311 shares. The stock had previously closed at $9.12.

Nuveen Select Maturities Municipal Fund Stock Down 0.3%

The stock has a 50 day moving average of $9.08 and a 200-day moving average of $9.11.

Nuveen Select Maturities Municipal Fund Dividend Announcement

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

Institutional Investors Weigh In On Nuveen Select Maturities Municipal Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Schwarz Dygos Wheeler Investment Advisors LLC increased its position 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 buying an additional 1,421 shares during the period. Stratos Wealth Partners LTD. increased its position in shares of 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 during the period. IFP Advisors Inc increased its position in shares of Nuveen Select Maturities Municipal Fund by 38.1% during the first 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 position in shares of Nuveen Select Maturities Municipal Fund by 3.8% during the second 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 position 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 buying an additional 3,000 shares during the period. 32.23% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.