Nuveen Intermediate Duration Quality Municipal Term Fund Announces Termination And Liquidation
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Nuveen Intermediate Duration Quality Municipal Term Fund (NYSE:NIQ) has completed its termination and liquidation as of June 30, 2023. The fund, which primarily invested in municipal securities, had previously announced its liquidation plans. Upon termination, NIQ had a final net asset value of $12.9850 per share and paid a cash distribution of $12.4082 per share to all shareholders. The fund also distributed one unit of Nuveen Intermediate Duration Quality Municipal Term Fund Liquidating Trust per NIQ share owned by each shareholder.
July 03, 2023 | 12:01 pm
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Nuveen Intermediate Duration Quality Municipal Term Fund (NYSE:NIQ) has completed its termination and liquidation. The fund paid a cash distribution of $12.4082 per share to all shareholders.
The termination and liquidation of the fund means that it no longer exists and its shares are no longer trading. This is a significant event for shareholders as they will receive a cash distribution and units of the liquidating trust in exchange for their shares. The impact on the stock price is negative as the shares are no longer trading.
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