Nuveen Michigan Municipal Bond Fund Class A (FMITX)
| Fund Assets | 194.54M |
| Expense Ratio | 0.85% |
| Min. Investment | $3,000 |
| Turnover | 38.00% |
| Dividend (ttm) | 0.34 |
| Dividend Yield | 3.04% |
| Dividend Growth | 7.80% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Feb 27, 2026 |
| Previous Close | 11.05 |
| YTD Return | 0.90% |
| 1-Year Return | 4.20% |
| 5-Year Return | -1.52% |
| 52-Week Low | 10.18 |
| 52-Week High | 11.06 |
| Beta (5Y) | n/a |
| Holdings | 104 |
| Inception Date | Jun 27, 1985 |
About FMITX
Nuveen Michigan Municipal Bond Fund Class A is an actively managed mutual fund focused on municipal bonds primarily issued within Michigan. Its principal objective is to provide investors with a high level of current interest income that is exempt from regular federal and Michigan state income taxes. The fund invests at least 80% of its assets in investment-grade municipal securities, including revenue and general obligation bonds tied to various local government and public service projects, such as utilities, transportation, and education. With a portfolio diversified across more than a hundred holdings, the fund targets consistent tax-advantaged income while aiming to preserve capital. Nuveen Michigan Municipal Bond Fund Class A serves individual investors seeking tax-efficient fixed income exposure, particularly those residing in Michigan, and plays a vital role in supporting state and municipal infrastructure financing while offering a pathway toward stable, tax-exempt returns within the broader municipal bond market.
Performance
FMITX had a total return of 4.20% in the past year, including dividends. Since the fund's inception, the average annual return has been 8.42%.
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Feb 27, 2026 | $0.029 | Mar 2, 2026 |
| Jan 30, 2026 | $0.029 | Feb 2, 2026 |
| Dec 31, 2025 | $0.029 | Dec 31, 2025 |
| Nov 28, 2025 | $0.029 | Dec 1, 2025 |
| Oct 31, 2025 | $0.029 | Nov 3, 2025 |
| Sep 30, 2025 | $0.029 | Oct 1, 2025 |