Nuveen Select Maturities Municipal Fund (NYSE:NIM) Trading Up 0.2% – Still a Buy?

Nuveen Select Maturities Municipal Fund (NYSE:NIM) shares rose 0.2% on Tuesday . The stock traded as high as $9.35 and last traded at $9.32. Approximately 4,029 shares were traded during mid-day trading, a decline of 68% from the average session volume of 12,447 shares. The stock had previously closed at $9.30.

Nuveen Select Maturities Municipal Fund Stock Up 0.2%

The stock has a 50 day moving average of $9.34 and a 200-day moving average of $9.42.

Nuveen Select Maturities Municipal Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.029 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, August 14th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in Nuveen Select Maturities Municipal Fund by 1.1% during the 1st 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 period. Stephens Inc. AR boosted its holdings 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 acquiring an additional 2,500 shares during the period. UBS Group AG boosted its holdings in shares of Nuveen Select Maturities Municipal Fund by 1.8% in the third quarter. UBS Group AG now owns 173,515 shares of the company’s stock worth $1,607,000 after acquiring an additional 3,087 shares during the period. Ackerman Capital Advisors LLC grew its position in shares of Nuveen Select Maturities Municipal Fund by 18.8% in the fourth quarter. Ackerman Capital Advisors LLC now owns 24,401 shares of the company’s stock valued at $227,000 after purchasing an additional 3,861 shares in the last quarter. Finally, Schwarz Dygos Wheeler Investment Advisors LLC raised its stake in shares of Nuveen Select Maturities Municipal Fund by 10.0% during the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 43,947 shares of the company’s stock valued at $409,000 after purchasing an additional 4,000 shares during the period. 32.23% of the stock is currently owned by hedge funds and other institutional investors.

About Nuveen Select Maturities Municipal Fund

Nuveen Select Maturities Municipal Fund (NYSE: NIM) is a diversified, closed-end management investment company managed by Nuveen Asset Management, a subsidiary of TIAA. Launched in January 2012, the fund seeks to provide shareholders with tax-exempt income by investing primarily in a broad range of municipal securities. Its portfolio is structured around a laddered maturity approach, which aims to balance yield opportunities with interest rate risk management across various maturity segments.

The fund’s investment strategy focuses on acquiring investment-grade and high-yield municipal bonds issued by state and local governments across the United States.