Nuveen Select Maturities Municipal Fund (NYSE:NIM) Stock Price Down 0.6% – Time to Sell?

Shares of Nuveen Select Maturities Municipal Fund (NYSE:NIM) dropped 0.6% on Friday. The company traded as low as $8.84 and last traded at $8.94. Approximately 19,737 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 54,599 shares. The stock had previously closed at $8.99.

Nuveen Select Maturities Municipal Fund Trading Down 0.6%

The stock’s fifty day moving average price is $8.99 and its 200-day moving average price is $9.21.

Nuveen Select Maturities Municipal Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be paid a $0.0290 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.35 dividend on an annualized basis and a dividend yield of 3.9%.

Institutional Trading of Nuveen Select Maturities Municipal Fund

Several institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Nuveen Select Maturities Municipal Fund by 22.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 31,692 shares of the company’s stock worth $299,000 after acquiring an additional 5,731 shares during the last quarter. Stephens Inc. AR increased its holdings in Nuveen Select Maturities Municipal Fund by 6.4% in the 1st quarter. Stephens Inc. AR now owns 41,500 shares of the company’s stock valued at $392,000 after purchasing an additional 2,500 shares during the last quarter. Royal Bank of Canada increased its holdings in Nuveen Select Maturities Municipal Fund by 5.3% in the 1st quarter. Royal Bank of Canada now owns 114,492 shares of the company’s stock valued at $1,081,000 after purchasing an additional 5,802 shares during the last quarter. Bank of America Corp DE raised its position in Nuveen Select Maturities Municipal Fund by 1.1% in the first quarter. Bank of America Corp DE now owns 146,467 shares of the company’s stock valued at $1,384,000 after purchasing an additional 1,552 shares during the period. Finally, Blake Schutter Theil Wealth Advisors LLC raised its position in 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 valued at $1,714,000 after purchasing an additional 20,878 shares during the period. 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 (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.

The fund’s investments may support public-sector activities such as schools, transportation systems, utilities, healthcare facilities, and other community infrastructure.