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

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

Nuveen Select Maturities Municipal Fund Price Performance

The stock’s fifty day moving average is $9.55 and its 200-day moving average is $9.44.

Nuveen Select Maturities Municipal Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a dividend of $0.029 per share. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, May 15th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NIM. Royal Bank of Canada boosted its stake in Nuveen Select Maturities Municipal Fund by 9.1% during the first quarter. Royal Bank of Canada now owns 85,021 shares of the company’s stock worth $792,000 after buying an additional 7,101 shares during the period. Osaic Holdings Inc. boosted its stake in Nuveen Select Maturities Municipal Fund by 58.8% during the second quarter. Osaic Holdings Inc. now owns 33,742 shares of the company’s stock worth $306,000 after buying an additional 12,500 shares during the period. Global Retirement Partners LLC purchased a new position in Nuveen Select Maturities Municipal Fund during the third quarter worth about $40,000. Hennion & Walsh Asset Management Inc. boosted its stake in Nuveen Select Maturities Municipal Fund by 9.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 290,682 shares of the company’s stock worth $2,692,000 after buying an additional 24,733 shares during the period. Finally, Ackerman Capital Advisors LLC purchased a new position in Nuveen Select Maturities Municipal Fund during the third quarter worth about $190,000. 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.