Nuveen Select Maturities Municipal Fund (NYSE:NIM) Stock Price Down 0.6% – Should You Sell?

Shares of Nuveen Select Maturities Municipal Fund (NYSE:NIM) fell 0.6% during mid-day trading on Friday. The stock traded as low as $8.84 and last traded at $8.94. Approximately 19,737 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 54,599 shares. The stock had previously closed at $8.99.

Nuveen Select Maturities Municipal Fund Stock Down 0.6%

The stock’s fifty day moving average is $8.99 and its 200-day moving average is $9.21.

Nuveen Select Maturities Municipal Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be issued a dividend of $0.0290 per share. This represents a $0.35 annualized dividend and a yield of 3.9%. The ex-dividend date is Thursday, October 15th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its holdings 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. Stephens Inc. AR boosted its position in 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 purchasing an additional 2,500 shares during the period. Envestnet Asset Management Inc. boosted its position in Nuveen Select Maturities Municipal Fund by 22.1% during the second 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 period. Royal Bank of Canada grew its holdings in 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 valued at $1,081,000 after purchasing an additional 5,802 shares during the last quarter. Finally, Blake Schutter Theil Wealth Advisors LLC grew its holdings in 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 valued at $1,714,000 after purchasing an additional 20,878 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 closed-end investment company managed by Nuveen, the asset-management business of TIAA. The fund seeks to provide current income that is exempt from regular federal income tax by investing primarily in municipal securities issued by states, municipalities and other public-sector entities.

The fund focuses on municipal bonds with short- to intermediate-term maturities. Its portfolio may include general obligation bonds, revenue bonds and other tax-exempt securities used to finance public services and infrastructure, such as schools, transportation systems, utilities and health-care facilities.