Nuveen completes IPO of Nuveen Municipal 2021 Target Term Fund

By Tali Rackner

Norfolk, Va., Jan. 27 – Nuveen Investments said it has successfully completed the initial public offering of the Nuveen Municipal 2021 Target Term Fund, raising $81 million in its common share offering, according to a press release.

If the underwriters exercise their option to purchase additional shares, the fund will have raised more than $92 million.

The fund’s investment objectives are to provide a high level of current income exempt from regular U.S. federal income tax, distributed monthly, and to return the original $9.85 net asset value per common share on or about March 1, 2021.

The fund will seek to achieve its investment objectives by investing primarily in municipal securities and other related investments.

The fund began trading on the New York Stock Exchange on Wednesday under the symbol “NHA.”

Nuveen Fund Advisors is the investment advisor. It is a subsidiary of Chicago-based Nuveen Investments.

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