NAD Stock Summary and Trading Ideas (Nuveen Dividend Advantage Muni | NYSE:NAD)

The Fund seeks to provide current income exempt from regular federal income tax by investing primarily in a portfolio of municipal obligations issued by state and local government authorities or certain U.S. territories. 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 (Baa/BBB or better by S&P, Moody’s, or Fitch) at the time of investment, or, if they are unrated, are judged by the manager to be of comparable quality. The fund may invest 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 Dividend Advantage Muni trades on the NYSE stock market under the symbol NAD.

As of April 19, 2024, NAD stock price climbed to $10.96 with 561,223 million shares trading.

NAD has a beta of 0.68, meaning it tends to be less sensitive to market movements. NAD has a correlation of 0.38 to the broad based SPY ETF.

NAD has a market cap of $2.56 billion. This is considered a Mid Cap stock.

In the last 3 years, NAD stock traded as high as $16.45 and as low as $9.56.

NAD has underperformed the market in the last year with a return of +1.2%, while the SPY ETF gained +21.2%. In the last 3 month period, NAD fell short of the market, returning +0.4%, while SPY returned +4.3%. However, in the most recent 2 weeks NAD has outperformed the stock market by returning -1.9%, while SPY returned -3.5%.

NAD support price is $10.89 and resistance is $11.01 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NAD stock will trade within this expected range on the day.