UPDATE: Stifel Nicolaus Initiates Nuveen Georgia Dividend Advantage Municipal Fund 2 at Hold

Stifel Nicolaus initiated coverage on Nuveen Georgia Dividend Advantage Municipal Fund 2

with a Hold rating. Stifel Nicolaus noted, "We are initiating coverage of the Nuveen Georgia Dividend Advantage Municipal Fund 2 (NKG) with a Hold rating on the shares. Our rating on NKG is based on valuation and fundamentals. Under normal circumstances, municipal closed-end funds pay dividends exempt from federal taxes. Additionally, for Georgia residences, a portion NKG's income will likely be exempt from state and local income taxes as well. As of September 30, 2012, NKG reported monthly earnings of $0.0548 per share on a three-month rolling average. The Fund had under-earned its current dividend of $0.0575 by a 4.70% margin." Nuveen Georgia Dividend Advantage Municipal Fund 2 closed at $14.93 on Tuesday.