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

Nuveen Select Maturities Municipal Fund (NYSE:NIM) saw a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 28,337 shares, an increase of 181.5% from the October 15th total of 10,068 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 41,324 shares, the short-interest ratio is presently 0.7 days.

Nuveen Select Maturities Municipal Fund Stock Down 1.4%

Nuveen Select Maturities Municipal Fund stock opened at $8.97 on Friday. The business has a 50 day moving average of $8.96 and a 200-day moving average of $9.31. Nuveen Select Maturities Municipal Fund has a 1 year low of $8.46 and a 1 year high of $9.94.

Nuveen Select Maturities Municipal Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a dividend of $0.0290 per share. This represents a $0.35 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, November 13th.

Hedge Funds Weigh In On Nuveen Select Maturities Municipal Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its stake in shares of Nuveen Select Maturities Municipal Fund by 1.1% during the first quarter. Bank of America Corp DE now owns 146,467 shares of the company’s stock valued at $1,384,000 after acquiring an additional 1,552 shares during the last quarter. Croban lifted its holdings in shares of Nuveen Select Maturities Municipal Fund by 8.7% during the third quarter. Croban now owns 149,898 shares of the company’s stock worth $1,304,000 after purchasing an additional 12,025 shares during the period. Royal Bank of Canada lifted its holdings in shares of 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 worth $1,081,000 after purchasing an additional 5,802 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Nuveen Select Maturities Municipal Fund by 22.1% in 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 last quarter. 32.23% of the stock is currently owned by institutional investors and hedge funds.

Nuveen Select Maturities Municipal Fund Company Profile

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.