Nuveen New Jersey municipal funds seek shareholder OK to merge

By Toni Weeks

San Luis Obispo, Calif., April 7 - The board of trustees of the Nuveen New Jersey Investment Quality Municipal Fund, Inc. approved a reorganization of the fund into the Nuveen New Jersey Dividend Advantage Municipal Fund, according to a 497 filing with the Securities and Exchange Commission.

The merger is intended to create a single, larger fund with lower operating expenses and increased trading volume on the exchange for its common shares, the filing said.

Shareholder approval is required.

The fund is managed by Nuveen Fund Advisors, LLC, a Chicago-based investment services firm.

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