Nuveen Dividend Advantage Municipal Fund (NYSE:NAD)’s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $14.42 and traded as high as $14.48. Nuveen Dividend Advantage Municipal Fund shares last traded at $14.47, with a volume of 4,517 shares changing hands.

The firm’s 50 day moving average is $14.42 and its two-hundred day moving average is $14.00.

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be paid a $0.054 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.65 annualized dividend and a dividend yield of 4.47%.

Large investors have recently added to or reduced their stakes in the stock. Karpus Management Inc. boosted its position in Nuveen Dividend Advantage Municipal Fund by 10.3% during the second quarter. Karpus Management Inc. now owns 9,878,874 shares of the financial services provider’s stock worth $138,304,000 after purchasing an additional 919,993 shares during the period. Wells Fargo & Company MN boosted its position in Nuveen Dividend Advantage Municipal Fund by 21.1% during the second quarter. Wells Fargo & Company MN now owns 4,867,913 shares of the financial services provider’s stock worth $68,150,000 after purchasing an additional 847,601 shares during the period. Rivernorth Capital Management LLC boosted its position in Nuveen Dividend Advantage Municipal Fund by 0.5% during the second quarter. Rivernorth Capital Management LLC now owns 4,174,688 shares of the financial services provider’s stock worth $58,446,000 after purchasing an additional 19,761 shares during the period. Robinson Capital Management LLC boosted its position in Nuveen Dividend Advantage Municipal Fund by 20.0% during the second quarter. Robinson Capital Management LLC now owns 1,210,626 shares of the financial services provider’s stock worth $17,046,000 after purchasing an additional 202,116 shares during the period. Finally, City of London Investment Management Co. Ltd. boosted its position in Nuveen Dividend Advantage Municipal Fund by 42.0% during the second quarter. City of London Investment Management Co. Ltd. now owns 1,080,283 shares of the financial services provider’s stock worth $15,119,000 after purchasing an additional 319,671 shares during the period.

About Nuveen Dividend Advantage Municipal Fund (NYSE:NAD)

Nuveen Quality Municipal Income 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 in undervalued municipal securities and other related investments, the income from which is exempt from regular federal income taxes.

See Also: How to use beta for portfolio diversification

Receive News & Ratings for Nuveen Dividend Advantage Municipal Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nuveen Dividend Advantage Municipal Fund and related companies with MarketBeat.com's FREE daily email newsletter.