Nuveen Dividend Advantage Municipal Fund (NAD) Reaches New 1-Year High at $13.51

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Nuveen Dividend Advantage Municipal Fund (NYSE:NAD) shares hit a new 52-week high on Wednesday . The stock traded as high as $13.51 and last traded at $13.51, with a volume of 3396 shares trading hands. The stock had previously closed at $13.46.

The firm also recently declared a monthly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a $0.0535 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.64 annualized dividend and a yield of 4.81%.

Hedge funds have recently added to or reduced their stakes in the company. Macroview Investment Management LLC acquired a new stake in shares of Nuveen Dividend Advantage Municipal Fund during the 4th quarter worth $34,000. Arbor Wealth Management LLC purchased a new stake in Nuveen Dividend Advantage Municipal Fund during the 4th quarter worth $38,000. Horan Securities Inc. purchased a new stake in Nuveen Dividend Advantage Municipal Fund during the 4th quarter worth $52,000. Next Capital Management LLC purchased a new stake in Nuveen Dividend Advantage Municipal Fund during the 4th quarter worth $64,000. Finally, Claybrook Capital LLC purchased a new position in Nuveen Dividend Advantage Municipal Fund in the 4th quarter valued at about $101,000.

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Nuveen Dividend Advantage Municipal Fund Company Profile (NYSE:NAD)

Nuveen Quality Municipal Income Fund is a closed-ended fixed income mutual fund launched by Nuveen Investments, Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of the United States. The fund invests in undervalued municipal securities and other related investments, the income from which is exempt from regular federal income taxes.

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