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

Nuveen Dividend Advantage Municipal Fd 3 (NZF) : Tortoise Investment Management reduced its stake in Nuveen Dividend Advantage Municipal Fd 3 by 2.93% during the most recent quarter end. The investment management company now holds a total of 202,545 shares of Nuveen Dividend Advantage Municipal Fd 3 which is valued at $3,242,745 after selling 6,116 shares in Nuveen Dividend Advantage Municipal Fd 3 , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Nuveen Dividend Advantage Municipal Fd 3 makes up approximately 1.10% of Tortoise Investment Management’s portfolio.

Other Hedge Funds, Including , Rmb Capital Management added NZF to its portfolio by purchasing 63,052 company shares during the most recent quarter which is valued at $1,009,463. Nuveen Dividend Advantage Municipal Fd 3 makes up approx 0.07% of Rmb Capital Management’s portfolio.Sit Investment Associates Inc boosted its stake in NZF in the latest quarter, The investment management firm added 44,498 additional shares and now holds a total of 119,025 shares of Nuveen Dividend Advantage Municipal Fd 3 which is valued at $1,912,732. Nuveen Dividend Advantage Municipal Fd 3 makes up approx 0.05% of Sit Investment Associates Inc’s portfolio.Community Bank Trust Waco Texas boosted its stake in NZF in the latest quarter, The investment management firm added 1,430 additional shares and now holds a total of 49,694 shares of Nuveen Dividend Advantage Municipal Fd 3 which is valued at $794,110. Nuveen Dividend Advantage Municipal Fd 3 makes up approx 0.43% of Community Bank Trust Waco Texas’s portfolio.Pointe Capital Management reduced its stake in NZF by selling 5,317 shares or 19.84% in the most recent quarter. The Hedge Fund company now holds 21,480 shares of NZF which is valued at $343,250. Nuveen Dividend Advantage Municipal Fd 3 makes up approx 0.25% of Pointe Capital Management’s portfolio. Deschutes Portfolio Strategy added NZF to its portfolio by purchasing 21,863 company shares during the most recent quarter which is valued at $346,091. Nuveen Dividend Advantage Municipal Fd 3 makes up approx 0.18% of Deschutes Portfolio Strategy’s portfolio.

Nuveen Dividend Advantage Municipal Fd 3 (NZF) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $16.01 and reached the intraday high at $16.01. The bulls started the profit booking and pushed the shares to intraday low of $15.95. The trading session was marked by a volume range of 3,28,586 shares exchanging hands. The 52-week high of the shares is $16.29 and the 52-week low is $13.31. The market cap of the company stands at $2,271 M and there are 14,21,25,910 shares in public circulation.

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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