Nuveen Build America Bond Fund said on May 1, 2023 that its board of directors declared a regular monthly dividend of $0.07 per share ($0.82 annualized). Previously, the company paid $0.07 per share.
Shares must be purchased before the ex-div date of May 12, 2023 to qualify for the dividend. Shareholders of record as of May 15, 2023 will receive the payment on June 1, 2023.
At the current share price of $16.37 / share, the stock's dividend yield is 4.98%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.04%, the lowest has been 3.41%, and the highest has been 5.49%. The standard deviation of yields is 0.53 (n=237).
The current dividend yield is 1.79 standard deviations above the historical average.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 85 funds or institutions reporting positions in Nuveen Build America Bond Fund. This is an increase of 8 owner(s) or 10.39% in the last quarter. Average portfolio weight of all funds dedicated to NBB is 0.10%, a decrease of 42.06%. Total shares owned by institutions increased in the last three months by 3.26% to 8,997K shares.
What are Other Shareholders Doing?
Guggenheim Capital holds 761K shares. No change in the last quarter.
UBS Group holds 761K shares. In it's prior filing, the firm reported owning 729K shares, representing an increase of 4.24%. The firm decreased its portfolio allocation in NBB by 9.53% over the last quarter.
Raymond James Financial Services Advisors holds 601K shares. In it's prior filing, the firm reported owning 385K shares, representing an increase of 35.94%. The firm increased its portfolio allocation in NBB by 48.57% over the last quarter.
Wells Fargo holds 578K shares. No change in the last quarter.
Guggenheim Taxable Municipal Managed Duration Trust holds 471K shares. No change in the last quarter.
Nuveen Taxable Municipal Income Fund Background Information
(This description is provided by the company.)
Nuveen Taxable Municipal Income Fund's primary objective is current income through investments in taxable municipal securities. Secondary objective is to seek enhanced portfolio value and total return. The Fund invests primarily in a diversified portfolio of taxable municipal securities. Up to 20% may be invested in other securities, including tax-exempt municipal securities and U.S. Treasury and other government securities. Also, the Fund invests at least 80% of its managed assets in securities rated, at the time of investment, investment grade or, if they are unrated, are judged to be of comparable quality by Nuveen Asset Management. The Fund uses leverage.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.