TSX runs higher on rate cut expectations
In a challenging economic climate, Nuveen Dividend Advantage Municipal Fund 3 (NZF) stock has reached a 52-week low, dipping to $11.62. With a market capitalization of $2.29 billion and an attractive dividend yield of 7.98%, the fund has maintained consistent dividend payments for 25 consecutive years. This price movement reflects broader market trends and investor sentiment towards municipal bond funds. With a beta of 0.62 and a P/E ratio of 5.06, the fund has demonstrated relatively low volatility. Over the past year, NZF has experienced a decline of 1.34%, mirroring the pressures faced by fixed-income securities as investors navigate interest rate changes and seek higher yields. The fund's performance, while currently at a low ebb, is closely watched by investors seeking tax-exempt income, indicating the market's ongoing assessment of risk and opportunity within the municipal bond sector. InvestingPro analysis reveals additional key insights about NZF's financial health and market position, with multiple ProTips available for subscribers.
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