In a notable performance within the municipal bond market, Nuveen Dividend Advantage Municipal Fund 3 (NZF) stock has reached a 52-week high, trading at $12.59. This peak reflects a robust period for the fund, which has seen a significant 1-year change with an increase of 6.36%. The fund's ascent to this high watermark underscores investor confidence and a favorable environment for municipal bond investments, as the fund navigates through economic variables to deliver value to its shareholders.
InvestingPro Insights
In the context of Nuveen Dividend Advantage Municipal Fund 3's (NZF) recent performance, reaching a 52-week high is just one of the indicators of its robust financial health. According to InvestingPro data, NZF has shown an impressive revenue growth of 18.79% over the last twelve months as of Q2 2024, with a quarterly revenue growth of 15.55% in Q2 2024. This growth trajectory is supported by a solid gross profit margin of 100% over the same period, which underlines the fund's operational efficiency.
Investors seeking stable income will find NZF's dividend yield of 7.6% particularly attractive, especially considering the fund has maintained dividend payments for 24 consecutive years—an InvestingPro Tip that speaks to its reliability for income-focused portfolios. Moreover, the fund's market capitalization stands at a healthy $2.44 billion USD, reflecting its significant presence in the municipal bond market.
For those considering adding NZF to their investment portfolio, it's worth noting that the fund trades with low price volatility, another InvestingPro Tip that may appeal to investors looking for less turbulent assets. Additionally, NZF has been profitable over the last twelve months, which can offer some reassurance about the fund's financial stability.
For more insights and to discover additional InvestingPro Tips, interested investors can explore the full range of analytical tools and data by visiting https://www.investing.com/pro/NZF. Plus, use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking even more value for your investment research. There are 7 additional InvestingPro Tips available for NZF, providing a deeper dive into the fund's performance and potential investment considerations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.