Nuveen Select Maturities Municipal Fund (NYSE:NIM) Sees Large Growth in Short Interest

Nuveen Select Maturities Municipal Fund (NYSE:NIM – Get Rating) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 11,200 shares, an increase of 433.3% from the March 31st total of 2,100 shares. Based on an average daily trading volume, of 24,500 shares, the days-to-cover ratio is currently 0.5 days.

A number of institutional investors and hedge funds have recently modified their holdings of NIM. Bromfield Sneider Wealth Advisors bought a new stake in Nuveen Select Maturities Municipal Fund during the first quarter valued at $59,000. Sigma Planning Corp acquired a new stake in shares of Nuveen Select Maturities Municipal Fund in the 1st quarter valued at about $108,000. Lokken Investment Group LLC acquired a new stake in shares of Nuveen Select Maturities Municipal Fund in the 3rd quarter valued at about $131,000. Wedbush Securities Inc. grew its stake in shares of Nuveen Select Maturities Municipal Fund by 30.7% in the 1st quarter. Wedbush Securities Inc. now owns 13,790 shares of the company’s stock valued at $132,000 after buying an additional 3,242 shares during the period. Finally, Cerro Pacific Wealth Advisors LLC boosted its stake in Nuveen Select Maturities Municipal Fund by 38.7% during the 1st quarter. Cerro Pacific Wealth Advisors LLC now owns 17,917 shares of the company’s stock valued at $172,000 after purchasing an additional 5,000 shares during the last quarter. 17.78% of the stock is currently owned by institutional investors and hedge funds.

NYSE NIM opened at $9.33 on Thursday. The firm’s fifty day moving average price is $9.65 and its two-hundred day moving average price is $10.22. Nuveen Select Maturities Municipal Fund has a fifty-two week low of $9.27 and a fifty-two week high of $11.30.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, May 2nd. Investors of record on Thursday, April 14th will be paid a $0.021 dividend. The ex-dividend date of this dividend is Wednesday, April 13th. This represents a $0.25 annualized dividend and a dividend yield of 2.70%.

Nuveen Select Maturities Municipal Fund Company Profile (Get Rating)

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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