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Nuveen Investments has completed the initial public offering of four new state-specific closed-end funds for municipal bind investors. The funds will begin trading on the NYSE Amex today and the total funds raised came to about $135 million in proceeds. These funds are broken down as follows:
- Nuveen California Municipal Value Fund 2 (NCB) for $50 million,
- Nuveen New Jersey Municipal Value Fund (NJV) for $25.1 million,
- Nuveen New York Municipal Value Fund 2 (NYV) for $40.4 million,
- Nuveen Pennsylvania Municipal Value Fund (NPN) for $19 million.
