Nuveen Select Maturities Municipal Fund (NYSE:NIM) Sees Large Drop in Short Interest

Nuveen Select Maturities Municipal Fund (NYSE:NIM) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 10,068 shares, a decline of 42.8% from the September 30th total of 17,587 shares. Based on an average daily volume of 41,553 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

Nuveen Select Maturities Municipal Fund Price Performance

NYSE NIM opened at $9.21 on Tuesday. The business has a 50 day simple moving average of $8.98 and a 200 day simple moving average of $9.31. Nuveen Select Maturities Municipal Fund has a 52-week low of $8.46 and a 52-week high of $9.94.

Nuveen Select Maturities Municipal Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be issued a $0.0290 dividend. This represents a $0.35 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, November 13th.

Institutional Investors Weigh In On Nuveen Select Maturities Municipal Fund

Large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its holdings in Nuveen Select Maturities Municipal Fund by 22.1% during the 2nd 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 in the last quarter. Stephens Inc. AR raised 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 purchasing an additional 2,500 shares during the period. Royal Bank of Canada lifted its holdings in shares of Nuveen Select Maturities Municipal Fund by 5.3% in 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 in the last quarter. Bank of America Corp DE lifted its holdings in shares of Nuveen Select Maturities Municipal Fund by 1.1% in the first quarter. Bank of America Corp DE now owns 146,467 shares of the company’s stock valued at $1,384,000 after purchasing an additional 1,552 shares in the last quarter. Finally, Blake Schutter Theil Wealth Advisors LLC lifted its holdings in shares of Nuveen Select Maturities Municipal Fund by 13.0% in 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 in the last quarter. Institutional investors own 32.23% of the company’s stock.

About Nuveen Select Maturities Municipal Fund

Nuveen Select Maturities Municipal Fund (NYSE: NIM) is a closed-end investment company managed by Nuveen Asset Management, an investment manager within the TIAA organization. The fund is designed for investors seeking income that is generally exempt from regular federal income tax.

NIM invests primarily in a diversified portfolio of municipal bonds and other municipal obligations issued by states, cities, counties, territories, and related public entities in the United States. Its portfolio emphasizes securities with relatively short to intermediate maturities, which can provide exposure to the municipal bond market while seeking to manage interest-rate sensitivity.

The fund’s investments may support public-sector activities such as schools, transportation systems, utilities, healthcare facilities, and other community infrastructure.