Nuveen Select Maturities Municipal Fund (NYSE:NIM) Trading Up 0.3% – Still a Buy?

Nuveen Select Maturities Municipal Fund (NYSE:NIM) rose 0.3% during mid-day trading on Thursday . The stock traded as high as $9.42 and last traded at $9.38. Approximately 23,656 shares changed hands during trading, an increase of 65% from the average session volume of 14,372 shares. The stock had previously closed at $9.35.

Nuveen Select Maturities Municipal Fund Trading Up 0.3%

The business’s fifty day simple moving average is $9.32 and its 200 day simple 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, August 3rd. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.029 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Wednesday, July 15th.

Institutional Trading of Nuveen Select Maturities Municipal Fund

A number of hedge funds and other institutional investors have recently modified their holdings of NIM. Bank of America Corp DE raised its position in Nuveen Select Maturities Municipal Fund by 1.1% in the 1st quarter. Bank of America Corp DE now owns 146,467 shares of the company’s stock worth $1,384,000 after purchasing an additional 1,552 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Nuveen Select Maturities Municipal Fund by 5.3% in the 1st quarter. Royal Bank of Canada now owns 114,492 shares of the company’s stock valued at $1,081,000 after buying an additional 5,802 shares during the period. Blake Schutter Theil Wealth Advisors LLC increased its stake 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 during the period. Stephens Inc. AR increased its stake in shares of Nuveen Select Maturities Municipal Fund by 6.4% in the 1st quarter. Stephens Inc. AR now owns 41,500 shares of the company’s stock valued at $392,000 after buying an additional 2,500 shares during the period. Finally, Uhlmann Price Securities LLC raised its position 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 acquiring an additional 5,809 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 (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.