Nuveen municipal funds to redeem $353.3 million auction-rate securities

By Cristal Cody

Springdale, Ark., Aug; 7 - Twenty-three Nuveen Investments municipal closed-end funds plan to redeem $353.3 million auction-rate preferred shares at par with tender option bonds, according to a statement released Thursday.

The shares will be redeemed Aug. 28, Aug. 29, Sept. 2 and Sept. 3.

The funds include the Municipal Advantage Fund; Select Quality Municipal Fund; Dividend Advantage Municipal Fund; Nuveen Municipal Market Opportunity Fund; Insured Quality Municipal Fund; Premier Insured Municipal Income Fund; Insured Dividend Advantage Municipal Fund; Insured Tax-Free Advantage Municipal Fund; Insured Municipal Opportunity Fund; and Investment Quality Municipal Fund.

Also included are the California Performance Plus Municipal Fund; California Investment Quality Municipal Fund; California Select Quality Municipal Fund; California Quality Income Municipal Fund; Insured California Premium Income Municipal Fund 2; Insured California Dividend Advantage Municipal Fund; New York Performance Plus Municipal Fund; New York Dividend Advantage Municipal Fund; New York Dividend Advantage Municipal Fund 2; New York Investment Quality Municipal Fund; New York Select Quality Municipal Fund; New York Quality Income Municipal Fund; and Insured New York Premium Income Municipal Fund.

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