Nuveen Select Maturities Municipal Fund (NYSE:NIM) Stock Price Down 1.7% - Time to Sell?

Key Points

• NIM shares fell 1.7% in mid-day trading to about $8.84, with trading volume roughly 71% above average. The price remains below both its 50-day ($9.23) and 200-day ($9.34) moving averages.
• The fund announced a monthly dividend of $0.029 per share, payable October 1 to shareholders of record on September 15, representing an annualized yield of approximately 3.9%.
• Institutional ownership stands at 32.23%, with several investment firms increasing their positions. NIM is a Nuveen-managed closed-end fund focused primarily on U.S. municipal bonds.

Nuveen Select Maturities Municipal Fund (NYSE:NIM - Get Free Report) fell 1.7% during mid-day trading on Wednesday . The company traded as low as $8.79 and last traded at $8.8350. Approximately 41,889 shares changed hands during mid-day trading, an increase of 71% from the average session volume of 24,464 shares. The stock had previously closed at $8.99.

Nuveen Select Maturities Municipal Fund Stock Performance

The business has a 50 day moving average of $9.23 and a 200-day moving average of $9.34.

Nuveen Select Maturities Municipal Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.029 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%.

Institutional Trading of Nuveen Select Maturities Municipal Fund

Several institutional investors and hedge funds have recently bought and sold shares of NIM. Envestnet Asset Management Inc. grew its position in Nuveen Select Maturities Municipal Fund by 22.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 31,692 shares of the company's stock worth $299,000 after purchasing an additional 5,731 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of 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 buying an additional 1,552 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Nuveen Select Maturities Municipal Fund by 5.3% during the first quarter. Royal Bank of Canada now owns 114,492 shares of the company's stock worth $1,081,000 after buying an additional 5,802 shares during the period. Blake Schutter Theil Wealth Advisors LLC boosted its stake in shares of Nuveen Select Maturities Municipal Fund by 13.0% during the first quarter. Blake Schutter Theil Wealth Advisors LLC now owns 181,427 shares of the company's stock worth $1,714,000 after buying an additional 20,878 shares during the period. 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 buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 32.23% of the company's stock.

About Nuveen Select Maturities Municipal Fund

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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