Nuveen Select Maturities Municipal Fund (NYSE:NIM) Trading 0.2% Higher – Here’s Why

Shares of Nuveen Select Maturities Municipal Fund (NYSE:NIM) shot up 0.2% during mid-day trading on Tuesday . The stock traded as high as $9.35 and last traded at $9.32. 4,029 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 12,447 shares. The stock had previously closed at $9.30.

Nuveen Select Maturities Municipal Fund Stock Performance

The firm has a 50-day moving average of $9.34 and a 200 day moving average of $9.42.

Nuveen Select Maturities Municipal Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.029 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a c) annualized dividend and a yield of 3.7%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NIM. Susquehanna International Group LLP bought a new stake in Nuveen Select Maturities Municipal Fund during the third quarter worth $93,000. Ackerman Capital Advisors LLC increased its position in shares of Nuveen Select Maturities Municipal Fund by 18.8% during the 4th quarter. Ackerman Capital Advisors LLC now owns 24,401 shares of the company’s stock valued at $227,000 after purchasing an additional 3,861 shares during the last quarter. Truist Financial Corp purchased a new stake in shares of Nuveen Select Maturities Municipal Fund during the 4th quarter valued at $262,000. Worthington Financial Partners LLC bought a new stake in shares of Nuveen Select Maturities Municipal Fund during the 4th quarter worth $270,000. Finally, Osaic Holdings Inc. raised its stake in shares of Nuveen Select Maturities Municipal Fund by 58.8% during the 2nd quarter. Osaic Holdings Inc. now owns 33,742 shares of the company’s stock worth $306,000 after purchasing an additional 12,500 shares during the period. 32.23% of the stock is owned by institutional investors.

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.