Nuveen Select Maturities Municipal Fund (NYSE:NIM) Stock Price Down 0.9% - Here's What Happened

Key Points

• NYSE:NIM shares fell 0.9% to $9.25 (intraday low $9.22) on light volume of ~13,574 shares, trading below the 50‑day moving average ($9.55) and near the 200‑day average ($9.44).
• The fund announced a monthly dividend of $0.029 payable June 1 with an ex‑dividend/record date of May 15, implying an annualized yield of about 3.8%.
• Institutions own 32.23% of the stock and several hedge funds recently initiated or increased small stakes; the fund is a Nuveen/TIAA‑managed closed‑end municipal bond vehicle using a laddered maturity strategy.

Nuveen Select Maturities Municipal Fund (NYSE:NIM - Get Free Report) was down 0.9% during trading on Monday . The company traded as low as $9.22 and last traded at $9.25. Approximately 13,574 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 15,358 shares. The stock had previously closed at $9.33.

Nuveen Select Maturities Municipal Fund Price Performance

The stock's 50-day moving average price is $9.55 and its 200 day moving average price is $9.44.

Nuveen Select Maturities Municipal Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a $0.029 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, May 15th.

Institutional Investors Weigh In On Nuveen Select Maturities Municipal Fund

Hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in shares of Nuveen Select Maturities Municipal Fund in the third quarter valued at about $40,000. Susquehanna International Group LLP purchased a new stake in shares of Nuveen Select Maturities Municipal Fund in the third quarter valued at about $93,000. NWF Advisory Services Inc. purchased a new stake in shares of Nuveen Select Maturities Municipal Fund in the third quarter valued at about $116,000. Sightline Wealth Advisors LLC grew its holdings in shares of Nuveen Select Maturities Municipal Fund by 21.1% in the fourth quarter. Sightline Wealth Advisors LLC now owns 14,715 shares of the company's stock valued at $137,000 after purchasing an additional 2,563 shares during the period. Finally, Sax Wealth Advisors LLC purchased a new stake in shares of Nuveen Select Maturities Municipal Fund in the fourth quarter valued at about $170,000. Hedge funds and other institutional investors own 32.23% of the company's stock.

Nuveen Select Maturities Municipal Fund Company Profile

Nuveen Select Maturities Municipal Fund NYSE: NIM is a diversified, closed-end management investment company managed by Nuveen Asset Management, a subsidiary of TIAA. Launched in January 2012, the fund seeks to provide shareholders with tax-exempt income by investing primarily in a broad range of municipal securities. Its portfolio is structured around a laddered maturity approach, which aims to balance yield opportunities with interest rate risk management across various maturity segments.

The fund's investment strategy focuses on acquiring investment-grade and high-yield municipal bonds issued by state and local governments across the United States.

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