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

Nuveen Select Maturities Municipal Fund (NYSE:NIM) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totalling 6,200 shares, a decline of 41.5% from the November 30th total of 10,600 shares. Based on an average daily trading volume, of 37,200 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Nuveen Select Maturities Municipal Fund

A number of hedge funds have recently made changes to their positions in NIM. Ackerman Capital Advisors LLC acquired a new stake in Nuveen Select Maturities Municipal Fund in the third quarter valued at $101,000. Truist Financial Corp increased its position in shares of Nuveen Select Maturities Municipal Fund by 13.0% in the 2nd quarter. Truist Financial Corp now owns 13,000 shares of the company’s stock worth $118,000 after purchasing an additional 1,500 shares during the last quarter. Hilltop Holdings Inc. increased its position in shares of Nuveen Select Maturities Municipal Fund by 8.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 24,147 shares of the company’s stock worth $224,000 after purchasing an additional 1,966 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Nuveen Select Maturities Municipal Fund by 15.6% in the 3rd quarter. Stephens Inc. AR now owns 29,700 shares of the company’s stock valued at $275,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Blake Schutter Theil Wealth Advisors LLC bought a new position in shares of Nuveen Select Maturities Municipal Fund during the third quarter worth about $669,000. Institutional investors and hedge funds own 32.23% of the company’s stock.

Nuveen Select Maturities Municipal Fund Price Performance

NYSE:NIM opened at $8.68 on Friday. The firm has a 50-day moving average of $8.98 and a two-hundred day moving average of $9.11. Nuveen Select Maturities Municipal Fund has a 1-year low of $8.62 and a 1-year high of $9.49.

Nuveen Select Maturities Municipal Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.0623 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 8.61%. The ex-dividend date is Friday, December 13th.

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.