Nuveen Select Maturities Municipal Fund (NYSE:NIM) Shares Down 1.7% – What’s Next?

Shares of Nuveen Select Maturities Municipal Fund (NYSE:NIM) fell 1.7% during trading on Wednesday. The company traded as low as $8.79 and last traded at $8.8350. Approximately 41,889 shares changed hands during mid-day trading, an increase of 71% from the average session volume of 24,464 shares. The stock had previously closed at $8.99.

Nuveen Select Maturities Municipal Fund Stock Up 0.2%

The stock’s fifty day moving average price is $9.21 and its 200 day moving average price is $9.33.

Nuveen Select Maturities Municipal Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $0.0290 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.35 annualized dividend and a yield of 3.9%.

Institutional Investors Weigh In On Nuveen Select Maturities Municipal Fund

Large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position 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 valued at $299,000 after acquiring an additional 5,731 shares during the period. Bank of America Corp DE boosted its holdings 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 worth $1,384,000 after purchasing an additional 1,552 shares during the period. Royal Bank of Canada boosted 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. Blake Schutter Theil Wealth Advisors LLC grew its stake 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 worth $1,714,000 after purchasing an additional 20,878 shares during the last quarter. Finally, Stephens Inc. AR grew its stake in shares of Nuveen Select Maturities Municipal Fund by 6.4% in 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 last quarter. Hedge funds and other institutional investors own 32.23% of the company’s stock.

Nuveen Select Maturities Municipal Fund Company Profile

Nuveen Select Maturities Municipal Fund is a closed-end fund listed on the New York Stock Exchange under the symbol NIM. The fund is managed by Nuveen, an asset manager specializing in investment solutions, and is designed to provide investors with exposure to the U.S. municipal bond market.

The fund invests primarily in municipal securities issued by states, municipalities and other public entities throughout the United States. These securities may help finance public infrastructure and services such as schools, transportation systems, utilities and hospitals.