SCHEDULE 13G: Tortoise Investment Management Discloses 5.36% Stake in Nuveen Select Maturities Municipal Fund

Tortoise Investment Management, LLC has reported a beneficial ownership of 5.36% in Nuveen Select Maturities Municipal Fund, holding 751,335 shares as of December 31, 2024.

Summary

• Tortoise Investment Management, LLC has filed a Schedule 13G, indicating beneficial ownership in Nuveen Select Maturities Municipal Fund.
• The filing reports ownership of 751,335 shares of the Exchange Traded Fund (ETF) with CUSIP Number 67061T101.
• This stake represents 5.36% of the total class of securities.
• Tortoise Investment Management, LLC, an investment adviser, holds shared dispositive power over all reported shares, with no sole or shared voting power.
• The acquisition of these securities was made in the ordinary course of business and not for the purpose of changing or influencing control of the issuer, as certified by the reporting person.

Sentiment

Score: 5

Explanation: This is a neutral, routine regulatory filing disclosing beneficial ownership, with no inherent positive or negative implications for the issuer's performance or outlook.

Future Outlook

NA

Management Comments

• "To the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

This filing reflects a routine disclosure of significant institutional ownership in a municipal bond Exchange Traded Fund (ETF). Municipal bond funds are popular investment vehicles for investors seeking tax-exempt income, and ETFs provide liquidity and diversification. Institutional holdings like this are common in the ETF market, indicating an investment adviser's strategic allocation to the municipal bond sector.

Stakeholder Impact

• This filing primarily impacts shareholders by providing transparency regarding significant institutional ownership, which can be a factor in assessing the stability of the shareholder base.

Key Dates

Keywords

Nuveen Select Maturities Municipal Fund, Tortoise Investment Management, Schedule 13G, Beneficial Ownership, Exchange Traded Fund, ETF, Municipal Fund, Investment Adviser, Institutional Ownership, SEC Filing