Nuveen Michigan Municipal Bond Fund Class A (FMITX)
| Fund Assets | 219.16M |
| Expense Ratio | 0.84% |
| Min. Investment | $3,000 |
| Turnover | 38.00% |
| Dividend (ttm) | 0.35 |
| Dividend Yield | 3.14% |
| Dividend Growth | 8.92% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jul 31, 2026 |
| Previous Close | 10.58 |
| YTD Return | 1.47% |
| 1-Year Return | 6.41% |
| 5-Year Return | -0.88% |
| 52-Week Low | 10.04 |
| 52-Week High | 10.65 |
| Beta (5Y) | 0.03 |
| Holdings | 121 |
| 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 6.41% in the past year, including dividends. Since the fund's inception, the average annual return has been 4.20%.
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Jul 31, 2026 | $0.029 | Aug 3, 2026 |
| Jun 30, 2026 | $0.029 | Jul 1, 2026 |
| May 29, 2026 | $0.029 | Jun 1, 2026 |
| Apr 30, 2026 | $0.029 | May 1, 2026 |
| Mar 31, 2026 | $0.029 | Apr 1, 2026 |
| Feb 27, 2026 | $0.029 | Mar 2, 2026 |