Nuveen Select Maturities Municipal Fund (NYSE:NIM) Sees Significant Decline in Short Interest

Key Points

• Short interest fell 48.6% to 12,434 shares as of September 15, representing just 0.1% of NIM’s stock and a days-to-cover ratio of 0.6.
• NIM opened at $8.64, near its one-year low of $8.63 and below its 50-day and 200-day moving averages, indicating recent trading weakness.
• The fund declared a monthly dividend of $0.029 per share, equivalent to approximately $0.35 annually and a 4.0% yield; institutional investors own 32.23% of the fund.

Nuveen Select Maturities Municipal Fund (NYSE:NIM - Get Free Report) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 12,434 shares, a decrease of 48.6% from the August 31st total of 24,205 shares. Currently, 0.1% of the company's stock are short sold. Based on an average trading volume of 20,960 shares, the days-to-cover ratio is presently 0.6 days.

Nuveen Select Maturities Municipal Fund Trading Down 2.0%

NIM opened at $8.64 on Tuesday. Nuveen Select Maturities Municipal Fund has a one year low of $8.63 and a one year high of $9.94. The business's 50-day simple moving average is $9.19 and its 200-day simple moving average is $9.32.

Nuveen Select Maturities Municipal Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.0290 dividend. This represents a $0.35 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Trading of Nuveen Select Maturities Municipal Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blake Schutter Theil Wealth Advisors LLC boosted its holdings in shares of Nuveen Select Maturities Municipal Fund by 13.0% in the 1st quarter. Blake Schutter Theil Wealth Advisors LLC now owns 181,427 shares of the company's stock valued at $1,714,000 after buying an additional 20,878 shares in the last quarter. Bank of America Corp DE boosted its stake in Nuveen Select Maturities Municipal Fund by 1.1% in the first quarter. Bank of America Corp DE now owns 146,467 shares of the company's stock valued at $1,384,000 after acquiring an additional 1,552 shares in the last quarter. Royal Bank of Canada boosted its stake in Nuveen Select Maturities Municipal Fund by 5.3% in the first quarter. Royal Bank of Canada now owns 114,492 shares of the company's stock valued at $1,081,000 after acquiring an additional 5,802 shares in the last quarter. Uhlmann Price Securities LLC grew its holdings in shares of Nuveen Select Maturities Municipal Fund by 6.7% during the first quarter. Uhlmann Price Securities LLC now owns 92,138 shares of the company's stock worth $871,000 after purchasing an additional 5,809 shares during the last quarter. Finally, Stephens Inc. AR grew its holdings in shares of Nuveen Select Maturities Municipal Fund by 6.4% during the first quarter. Stephens Inc. AR now owns 41,500 shares of the company's stock worth $392,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 32.23% of the company's stock.

Nuveen Select Maturities Municipal Fund Company Profile

Nuveen Select Maturities Municipal Fund is a closed-end fund listed on the New York Stock Exchange under the symbol NIM. The fund is managed by Nuveen, an asset manager specializing in investment solutions, and is designed to provide investors with exposure to the U.S. municipal bond market.

The fund invests primarily in municipal securities issued by states, municipalities and other public entities throughout the United States. These securities may help finance public infrastructure and services such as schools, transportation systems, utilities and hospitals.

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