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

Nuveen Select Maturities Municipal Fund (NYSE:NIM) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 21,900 shares, a growth 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 currently 0.5 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. 1607 Capital Partners LLC increased its position in Nuveen Select Maturities Municipal Fund by 29.0% in the fourth quarter. 1607 Capital Partners LLC now owns 1,021,532 shares of the company’s stock worth $8,898,000 after buying an additional 229,939 shares during the last quarter. Tortoise Investment Management LLC increased its holdings in Nuveen Select Maturities Municipal Fund by 19.7% in the 4th quarter. Tortoise Investment Management LLC now owns 751,335 shares of the company’s stock worth $6,544,000 after acquiring an additional 123,813 shares during the last quarter. Bank of America Corp DE raised its stake in Nuveen Select Maturities Municipal Fund by 10.5% in the 4th quarter. Bank of America Corp DE now owns 197,533 shares of the company’s stock valued at $1,721,000 after acquiring an additional 18,823 shares during the period. Whipplewood Advisors LLC purchased a new stake in Nuveen Select Maturities Municipal Fund during the fourth quarter valued at about $1,288,000. Finally, Wolverine Asset Management LLC boosted its position in Nuveen Select Maturities Municipal Fund by 49.3% during the fourth quarter. Wolverine Asset Management LLC now owns 140,583 shares of the company’s stock worth $1,224,000 after purchasing an additional 46,399 shares during the period. 32.23% of the stock is owned by institutional investors.

Nuveen Select Maturities Municipal Fund Stock Performance

Nuveen Select Maturities Municipal Fund stock traded down $0.00 during mid-day trading on Friday, reaching $9.19. 4,154 shares of the company’s stock were exchanged, compared to its average volume of 32,001. The business’s fifty day simple moving average is $9.12 and its 200 day simple moving average is $9.07. Nuveen Select Maturities Municipal Fund has a one year low of $8.60 and a one year high of $9.64.

Nuveen Select Maturities Municipal Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.0275 dividend. This represents a $0.33 annualized dividend and a yield of 3.59%. The ex-dividend date is Friday, March 14th.

About Nuveen Select Maturities Municipal Fund

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.