Nuveen Select Maturities Municipal Fund (NYSE:NIM) Sees Significant Increase in Short Interest

Nuveen Select Maturities Municipal Fund (NYSE:NIM) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 21,900 shares, an increase of 167.1% from the February 28th total of 8,200 shares. Based on an average trading volume of 48,100 shares, the days-to-cover ratio is presently 0.5 days.

Nuveen Select Maturities Municipal Fund Trading Down 0.9 %

Shares of NIM traded down $0.08 during mid-day trading on Thursday, reaching $9.19. The stock had a trading volume of 12,943 shares, compared to its average volume of 32,094. The business’s fifty day moving average is $9.10 and its 200 day moving average is $9.07. Nuveen Select Maturities Municipal Fund has a 52-week low of $8.60 and a 52-week high of $9.64.

Nuveen Select Maturities Municipal Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.0275 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, March 14th.

Institutional Trading of Nuveen Select Maturities Municipal Fund

A number of hedge funds and other institutional investors have recently modified their holdings of NIM. South Plains Financial Inc. acquired a new stake in shares of Nuveen Select Maturities Municipal Fund during the fourth quarter valued at about $37,000. Independent Advisor Alliance purchased a new position in shares of Nuveen Select Maturities Municipal Fund during the 4th quarter worth approximately $131,000. Ancora Advisors LLC increased its holdings in Nuveen Select Maturities Municipal Fund by 725.0% in the 4th quarter. Ancora Advisors LLC now owns 18,207 shares of the company’s stock valued at $159,000 after purchasing an additional 16,000 shares during the last quarter. Ameriprise Financial Inc. raised its position in Nuveen Select Maturities Municipal Fund by 16.6% in the fourth quarter. Ameriprise Financial Inc. now owns 21,050 shares of the company’s stock valued at $183,000 after purchasing an additional 3,000 shares during the period. Finally, Nomura Holdings Inc. acquired a new position in Nuveen Select Maturities Municipal Fund during the fourth quarter worth $192,000. 32.23% of the stock is owned by institutional investors and hedge funds.

Nuveen Select Maturities Municipal Fund Company Profile

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.