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

Nuveen Dividend Advantage Municipal Fd 3 (NZF) : Robinson Capital Management reduced its stake in Nuveen Dividend Advantage Municipal Fd 3 by 13.59% during the most recent quarter end. The investment management company now holds a total of 540,743 shares of Nuveen Dividend Advantage Municipal Fd 3 which is valued at $8,651,888 after selling 85,060 shares in Nuveen Dividend Advantage Municipal Fd 3 , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Nuveen Dividend Advantage Municipal Fd 3 makes up approximately 6.12% of Robinson Capital Management’s portfolio.

Other Hedge Funds, Including , Laurion Capital Management Lp boosted its stake in NZF in the latest quarter, The investment management firm added 194,746 additional shares and now holds a total of 256,099 shares of Nuveen Dividend Advantage Municipal Fd 3 which is valued at $4,097,584. Nuveen Dividend Advantage Municipal Fd 3 makes up approx 0.24% of Laurion Capital Management Lp’s portfolio.Raymond James Associates boosted its stake in NZF in the latest quarter, The investment management firm added 22,907 additional shares and now holds a total of 281,598 shares of Nuveen Dividend Advantage Municipal Fd 3 which is valued at $4,505,568. Nuveen Dividend Advantage Municipal Fd 3 makes up approx 0.01% of Raymond James Associates’s portfolio.Mackay Shields boosted its stake in NZF in the latest quarter, The investment management firm added 489,816 additional shares and now holds a total of 945,726 shares of Nuveen Dividend Advantage Municipal Fd 3 which is valued at $15,112,701. Nuveen Dividend Advantage Municipal Fd 3 makes up approx 3.07% of Mackay Shields’s portfolio.

Nuveen Dividend Advantage Municipal Fd 3 closed down -0.05 points or -0.31% at $15.85 with 3,32,849 shares getting traded on Thursday. Post opening the session at $15.9, the shares hit an intraday low of $15.84 and an intraday high of $15.92 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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