Nuveen New York Dividend Advantage Municipal Fund's Term Preferred Shares About To Put More Money In Your Pocket

On 5/13/13, Nuveen New York Dividend Advantage Municipal Fund's MuniFund Term Preferred Shares, 2.50% Series 2016 (NYSE: NAN.PRD) will trade ex-dividend, for its monthly dividend of $0.0208, payable on 6/3/13. As a percentage of NAN.PRD's recent share price of $10.17, this dividend works out to approximately 0.20%. On an annualized basis, the current yield is approximately 2.46%, which compares to an average yield of 3.20% in the "ETFs & CEFs" preferred stock category, according to Preferred Sto...