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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Nuveen Ins FL TX FR Adv Mun | AMEX:NWF | AMEX | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
From May 2019 to May 2024
Fourteen closed-end funds sponsored by Nuveen Investments today called for redemption at par a portion of their outstanding auction-rate preferred securities (ARPS). The funds’ Board of Trustees has approved each redemption, which total more than $59 million. Each of the funds will be using tender option bonds (TOBs) to finance the partial redemption of its ARPS. TOBs are floating rate securities issued by trusts into which a fund has deposited municipal securities.
The funds issuing at-par redemption notices are:
Insured Tax Free Advantage Muni Fund (NEA)
Georgia Dividend Advantage Municipal Fund 2 (NKG) Premier Insured Municipal Income Fund (NIF) Georgia Premium Income Municipal Fund (NPG) California Municipal Market Opportunity Fund (NCO) New Jersey Dividend Advantage Municipal Fund 2 (NUJ) California Select Quality Municipal Fund (NVC) New Jersey Investment Quality Municipal Fund (NQJ) Insured Florida Premium Income Municipal Fund (NFL) North Carolina Dividend Advantage Municipal Fund (NRB) Insured Florida Tax Free Advantage Muni Fund (NWF) Virginia Dividend Advantage Municipal Fund 2 (NNB) Georgia Dividend Advantage Municipal Fund (NZX) Virginia Premium Income Municipal Fund (NPV)For each fund having multiple auction-rate preferred share series, the fund’s redemption amount will be allocated on a pro rata basis among such series.
The Depository Trust Company (DTC), the securities’ holder of record, determines how each partial redemption for a particular series will be allocated among each participant broker-dealer account for that series. Each participant broker-dealer, as nominee for underlying beneficial owners (street-name shareholders), in turn determines how redeemed shares are allocated among its underlying beneficial owners. The procedures used by different broker-dealers to allocate redeemed shares among beneficial owners may differ from each other as well as from the procedures used by DTC.
The tables below list the total number of shares, par amounts and scheduled redemption dates for these redemptions, which are pro rata by series:
NEA is redeeming $2.5 million of its $131.15 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date T 670657204 50 $1,250,000 June 24, 2009 W 670657303 50 $1,250,000 June 25, 2009NIF is redeeming $9.175 million of its $139.3 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date W 670987403 47 $1,175,000 June 25, 2009 TH 670987205 160 $4,000,000 June 26, 2009 F 670987304 160 $4,000,000 June 29, 2009NCO is redeeming $10.125 million of its $58.9 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date W 67062U206 405 $10,125,000 June 25, 2009NVC is redeeming $4.525 million of its $164.15 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date T 670975200 56 $1,400,000 June 24, 2009 W 670975408 40 $1,000,000 June 25, 2009 TH 670975309 85 $2,125,000 June 26, 2009NFL is redeeming $8.825 million of its $111.0 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date W 67101V306 130 $3,250,000 June 25, 2009 TH 67101V207 223 $5,575,000 June 26, 2009NWF is redeeming $2.25 million of its $29.0 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date W 670655208 90 $2,250,000 June 25, 2009NZX is redeeming $1.1 million of its $15.0 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date M 67070T209 44 $1,100,000 June 23, 2009NKG is redeeming $2.4 million of its $31.7 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date F 67072B206 96 $2,400,000 June 29, 2009NPG is redeeming $2.1 million of its $27.8 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date TH 67060F201 84 $2,100,000 June 26, 2009NUJ is redeeming $0.775 million of its $32.6 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date W 67071T208 31 $775,000 June 25, 2009NQJ is redeeming $3.525 million of its $149.825 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date M 670971209 70 $1,750,000 June 23, 2009 TH 670971308 43 $1,075,000 June 26, 2009 F 670971407 28 $700,000 June 29, 2009NRB is redeeming $0.925 million of its $17.0 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date T 67069N205 37 $925,000 June 24, 2009NNB is redeeming $4.25 million of its $41.175 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date M 67071C205 170 $4,250,000 June 23, 2009NPV is redeeming $6.8 million of its $63.8 million of currently outstanding ARPS.
Total Shares Total Amount Redemption Series Cusip # Redeemed Redeemed Date T 67064R300 89 $2,225,000 June 24, 2009 TH 67064R201 183 $4,575,000 June 26, 2009For more information about Nuveen closed-end funds, visit www.nuveen.com/cef. ARPS information and updates are posted on Nuveen’s auction-rate preferred resource center at www.nuveen.com/arps.
Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of HydePark, NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, the Company managed $115 billion of assets on March 31, 2009.
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