Diversified Portfolios Inc. Takes $164,000 Position in NUVEEN MICH QUA (NUM)

Diversified Portfolios Inc. bought a new position in NUVEEN MICH QUA (NYSE:NUM) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,000 shares of the investment management company’s stock, valued at approximately $164,000.

A number of other hedge funds have also recently modified their holdings of the stock. Pointe Capital Management LLC lifted its position in NUVEEN MICH QUA by 0.4% in the second quarter. Pointe Capital Management LLC now owns 82,379 shares of the investment management company’s stock worth $1,129,000 after purchasing an additional 300 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in NUVEEN MICH QUA by 2.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 21,824 shares of the investment management company’s stock worth $299,000 after purchasing an additional 600 shares during the period. Sigma Planning Corp lifted its position in NUVEEN MICH QUA by 4.5% in the second quarter. Sigma Planning Corp now owns 35,171 shares of the investment management company’s stock worth $482,000 after purchasing an additional 1,527 shares during the period. Norris Perne & French LLP MI bought a new position in NUVEEN MICH QUA in the second quarter worth $137,000. Finally, Wells Fargo & Company MN lifted its position in NUVEEN MICH QUA by 14.6% in the second quarter. Wells Fargo & Company MN now owns 206,456 shares of the investment management company’s stock worth $2,829,000 after purchasing an additional 26,291 shares during the period. 8.79% of the stock is owned by hedge funds and other institutional investors.

Shares of NUVEEN MICH QUA (NYSE NUM) traded up 0.36% on Friday, reaching $13.95. The company had a trading volume of 24,835 shares. NUVEEN MICH QUA has a 52-week low of $12.90 and a 52-week high of $15.09. The company’s 50-day moving average price is $13.84 and its 200-day moving average price is $13.60.

The company also recently declared a monthly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.0535 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.64 annualized dividend and a yield of 4.60%.

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About NUVEEN MICH QUA

Nuveen Michigan Quality Income Municipal Fund is a closed-end management investment company. The fund seeks current income exempt from federal and Michigan income tax, as well as the Michigan intangibles tax. The secondary objective is the enhancement of portfolio value. The fund invests at least 80% of its managed assets in securities rated, at the time of investment, investment grade (Baa/BBB, S&P, Moody’s, or Fitch).

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Institutional Ownership by Quarter for NUVEEN MICH QUA (NYSE:NUM)

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