Karpus Management Lowers stake in Nuveen Dividend Advantage Municipal Fd 3 (NZF)

Nuveen Dividend Advantage Municipal Fd 3 (NZF) : Karpus Management reduced its stake in Nuveen Dividend Advantage Municipal Fd 3 by 19.55% during the most recent quarter end. The investment management company now holds a total of 4,470,493 shares of Nuveen Dividend Advantage Municipal Fd 3 which is valued at $69 Million after selling 1,086,456 shares in Nuveen Dividend Advantage Municipal Fd 3 , the firm said in a disclosure report filed with the SEC on May 13, 2016.Nuveen Dividend Advantage Municipal Fd 3 makes up approximately 3.12% of Karpus Management’s portfolio.

Other Hedge Funds, Including , Global Endowment Management Lp reduced its stake in NZF by selling 31,779 shares or 25.0% in the most recent quarter. The Hedge Fund company now holds 95,337 shares of NZF which is valued at $1.5 Million. Nuveen Dividend Advantage Municipal Fd 3 makes up approx 0.31% of Global Endowment Management Lp’s portfolio.Landscape Capital Management L.l.c. reduced its stake in NZF by selling 213,060 shares or 87.86% in the most recent quarter. The Hedge Fund company now holds 29,430 shares of NZF which is valued at $454,105. Nuveen Dividend Advantage Municipal Fd 3 makes up approx 0.06% of Landscape Capital Management L.l.c.’s portfolio.Macroview Investment Management reduced its stake in NZF by selling 12,322 shares or 19.49% in the most recent quarter. The Hedge Fund company now holds 50,912 shares of NZF which is valued at $786,590. Nuveen Dividend Advantage Municipal Fd 3 makes up approx 3.34% of Macroview Investment Management’s portfolio. Yorktown Management Research Co Inc added NZF to its portfolio by purchasing 576,926 company shares during the most recent quarter which is valued at $8.9 Million. Nuveen Dividend Advantage Municipal Fd 3 makes up approx 1.71% of Yorktown Management Research Co Inc’s portfolio.

Nuveen Dividend Advantage Municipal Fd 3 closed down -0.01 points or -0.06% at $15.45 with 2,39,206 shares getting traded on Wednesday. Post opening the session at $15.45, the shares hit an intraday low of $15.42 and an intraday high of $15.48 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Nuveen Dividend Advantage Municipal Fund 3 is a United States-based closed-end diversified management investment company. The Fund’s investment objective is to provide current income exempt from regular federal income tax and to enhance portfolio value. The Fund invests in municipal securities that are exempt from federal income taxes. The Fund invests at least 80% of its managed assets in municipal securities rated investment grade. The Fund invests up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. The Fund uses leverage. Nuveen Asset Management LLC is the sub-adviser to the Fund and an affiliate of Nuveen Investments Inc.

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