Nuveen Dividend Advantage Municipal Fund (NAD): Gifford R Zimmerman , Chief Administrative Officer of Nuveen Dividend Advantage Municipal Fund sold 1,000 shares on May 6, 2016. The Insider selling transaction was reported by the company on May 10, 2016 to the Securities and Exchange Commission. The shares were sold at $15.62 per share for a total value of $15,620.00 , the company said in a SEC Form 4 Filing.
Nuveen Div. Advantage Muni. Fund: On Friday, May 6, 2016 heightened volatility was witnessed in Nuveen Div. Advantage Muni. Fund which led to swings in the share price. The shares opened for trading at $15.58 and hit $15.66 on the upside , eventually ending the session at $15.62, with a gain of 0.19% or 0.03 points. The heightened volatility saw the trading volume jump to 1,04,550 shares. The 52-week high of the share price is $14.8 and the company has a market cap of $613 M . The 52-week low of the share price is at $13.31.
Nuveen Dividend Advantage Municipal Fund (the Fund) is a diversified closed-end investment company. The Fund seeks to provide current income exempt from regular federal income tax by investing primarily in a diversified portfolio of municipal obligations issued by state and local government authorities or certain United States territories. 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 (Baa/BBB or better by S&P Moody’s or Fitch) at the time of investment or if they are unrated are judged by the manager to be of comparable quality. The Fund may invest 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. It is managed by Nuveen Asset Management LLC.