Nuveen Michigan Municipal Bond Fund Class I (NMMIX)
| Fund Assets | 194.54M |
| Expense Ratio | 0.65% |
| Min. Investment | $100,000 |
| Turnover | 38.00% |
| Dividend (ttm) | 0.36 |
| Dividend Yield | 3.37% |
| Dividend Growth | 7.49% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Feb 27, 2026 |
| Previous Close | 10.58 |
| YTD Return | 0.96% |
| 1-Year Return | 4.61% |
| 5-Year Return | 0.04% |
| 52-Week Low | 9.70 |
| 52-Week High | 10.58 |
| Beta (5Y) | n/a |
| Holdings | 104 |
| Inception Date | Feb 3, 1997 |
About NMMIX
Nuveen Michigan Municipal Bond Fund Class I is an institutional mutual fund specializing in investment-grade municipal bonds issued within the state of Michigan. Its primary function is to generate a high level of current interest income for investors, with distributions that are generally exempt from regular federal and Michigan state income taxes, aiming to provide tax-advantaged returns while preserving capital. The fund invests mainly in municipal securities, such as general obligation and revenue bonds, that support a range of public projects including infrastructure, education, and utilities throughout Michigan. Featuring a medium to extensive interest rate sensitivity and predominantly investment-grade credit quality, the fund’s portfolio is diversified across various Michigan issuers, concentrating a significant portion in its top holdings to address local public financing needs. As an institutional share class, it has a relatively low expense ratio and is designed for large investors, such as organizations and employee benefit plans. Nuveen Michigan Municipal Bond Fund Class I serves an important role for investors seeking stable, tax-exempt income through exposure to Michigan’s municipal bond market while contributing to the state’s public development projects.
Performance
NMMIX had a total return of 4.61% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.32%.
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Feb 27, 2026 | $0.0305 | Mar 2, 2026 |
| Jan 30, 2026 | $0.0305 | Feb 2, 2026 |
| Dec 31, 2025 | $0.0305 | Dec 31, 2025 |
| Nov 28, 2025 | $0.0305 | Dec 1, 2025 |
| Oct 31, 2025 | $0.0305 | Nov 3, 2025 |
| Sep 30, 2025 | $0.0305 | Oct 1, 2025 |