Short Interest in Nuveen Select Maturities Municipal Fund (NYSE:NIM) Declines By 25.4%

Key Points

• Short interest in Nuveen Select Maturities Municipal Fund has declined by 25.4% in August, dropping from 17,700 shares to 13,200 shares.
• The fund recently increased its monthly dividend to $0.029, reflecting a yield of 3.8%, with the payment date set for October 1st.
• Institutional investors currently hold 32.23% of the fund's stock, with several hedge funds increasing their positions significantly in recent quarters.

Nuveen Select Maturities Municipal Fund (NYSE:NIM - ) saw a large decline in short interest in August. As of August 15th, there was short interest totaling 13,200 shares, adeclineof25.4% from the July 31st total of 17,700 shares. Based on an average daily trading volume, of 22,700 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily trading volume, of 22,700 shares, the days-to-cover ratio is presently 0.6 days.

Nuveen Select Maturities Municipal Fund Price Performance

Shares of NYSE:NIM traded up $0.07 during midday trading on Monday, hitting $9.28. The stock had a trading volume of 18,536 shares, compared to its average volume of 17,775. The company's 50-day moving average price is $9.12 and its 200-day moving average price is $9.11. Nuveen Select Maturities Municipal Fund has a fifty-two week low of $8.60 and a fifty-two week high of $9.64.

Nuveen Select Maturities Municipal Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be given a $0.029 dividend. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, September 15th. This is a boost from Nuveen Select Maturities Municipal Fund's previous monthly dividend of $0.03.

Hedge Funds Weigh In On Nuveen Select Maturities Municipal Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc boosted its position in Nuveen Select Maturities Municipal Fund by 38.1% in 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 in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Nuveen Select Maturities Municipal Fund in the first quarter valued at approximately $132,000. Ameriprise Financial Inc. boosted its position in Nuveen Select Maturities Municipal Fund by 16.6% in 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 in the last quarter. Nomura Holdings Inc. acquired a new stake in Nuveen Select Maturities Municipal Fund in the fourth quarter valued at approximately $192,000. Finally, Osaic Holdings Inc. boosted its position in Nuveen Select Maturities Municipal Fund by 58.8% in the second quarter. Osaic Holdings Inc. now owns 33,742 shares of the company's stock valued at $306,000 after buying an additional 12,500 shares in the last quarter. 32.23% of the stock is currently owned by institutional investors and hedge funds.

Nuveen Select Maturities Municipal Fund Company Profile

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.

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