Nuveen Select Maturities Municipal Fund (NYSE:NIM) Short Interest Update

Nuveen Select Maturities Municipal Fund (NYSE:NIM) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 4,100 shares, an increase of 156.3% from the September 15th total of 1,600 shares. Based on an average daily trading volume, of 16,400 shares, the days-to-cover ratio is currently 0.3 days.

NYSE:NIM traded down $0.04 during trading hours on Thursday, reaching $10.59. 100 shares of the company traded hands, compared to its average volume of 18,862. Nuveen Select Maturities Municipal Fund has a 1-year low of $10.19 and a 1-year high of $11.30. The firm’s 50-day moving average is $10.81 and its 200-day moving average is $10.81.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 15th will be issued a dividend of $0.021 per share. This represents a $0.25 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, October 14th.

Several hedge funds have recently bought and sold shares of NIM. Guggenheim Capital LLC raised its position in shares of Nuveen Select Maturities Municipal Fund by 18.0% in the 1st quarter. Guggenheim Capital LLC now owns 122,103 shares of the company’s stock worth $1,304,000 after buying an additional 18,612 shares during the period. Morgan Stanley raised its position in shares of Nuveen Select Maturities Municipal Fund by 6.7% in the 2nd quarter. Morgan Stanley now owns 186,135 shares of the company’s stock worth $2,042,000 after buying an additional 11,638 shares during the period. Wedbush Securities Inc. purchased a new position in shares of Nuveen Select Maturities Municipal Fund in the 3rd quarter worth $112,000. Koshinski Asset Management Inc. raised its position in Nuveen Select Maturities Municipal Fund by 31.3% in the third quarter. Koshinski Asset Management Inc. now owns 39,008 shares of the company’s stock valued at $424,000 after purchasing an additional 9,300 shares during the period. Finally, Wakefield Asset Management LLLP raised its position in Nuveen Select Maturities Municipal Fund by 13.7% in the second quarter. Wakefield Asset Management LLLP now owns 53,070 shares of the company’s stock valued at $582,000 after purchasing an additional 6,400 shares during the period. Institutional investors and hedge funds own 12.52% of the company’s stock.

About Nuveen Select Maturities Municipal Fund

Nuveen Select Maturities Municipal 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 primarily in municipal securities rated Baa/BBB or better.

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