Nuveen Div. Advantage Muni. Fund (NAD) Declares Monthly Dividend of $0.07

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Nuveen Div. Advantage Muni. Fund (NYSE:NAD) announced a monthly dividend on Thursday, July 2nd, ARN reports. Investors of record on Wednesday, July 15th will be paid a dividend of 0.071 per share on Monday, August 3rd. This represents a $0.85 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date is Monday, July 13th.

Shares of Nuveen Div. Advantage Muni. Fund (NYSE:NAD) traded down 0.95% during mid-day trading on Thursday, hitting $13.51. The stock had a trading volume of 172,083 shares. Nuveen Div. Advantage Muni. Fund has a 52-week low of $13.46 and a 52-week high of $14.80. The stock’s 50-day moving average is $13.89 and its 200-day moving average is $14.19. The company has a market cap of $530.89 million and a price-to-earnings ratio of 6.36.

Nuveen Dividend Advantage Municipal Fund (NYSE:NAD) is a diversified closed-end investment company. The Fund seeks to provide current income exempt from regular federal income tax by investing primarily in a diversified portfolio of municipal obligations issued by state and local government authorities or certain United States territories. The Fund invests in municipal securities that are exempt from federal income taxes. The Fund invests at least 80% of its managed assets in municipal securities rated investment grade (Baa/BBB or better by S&P, Moody’s, or Fitch) at the time of investment, or, if they are unrated, are judged by the manager to be of comparable quality. The Fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality, of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. It is managed by Nuveen Asset Management, LLC.

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