Nuveen Dividend Advantage to redeem W, TH, F auction-rate preferreds

By Toni Weeks

San Diego, Dec. 20 - Nuveen Dividend Advantage Municipal Fund 3 announced that it will redeem a portion of its outstanding W, TH and F municipal auction-rate cumulative preferred shares in January, according to a filing with the Securities and Exchange Commission.

Each share has a liquidation preference of $25,000, and the redemption will total $63,625,000.

The redemption will be completed over three days, with 848 series W to be redeemed Jan. 11, 848 series TH to be redeemed Jan. 12 and 849 series F to be redeemed Jan. 13.

Nuveen is an investment management firm based in Chicago.

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