Nuveen Arizona Dividend Advantage Municipal Fund (the Fund) is a closed-end fund. The fund's primary investment objective is to provide current income exempt from regular federal and Arizona income tax and its secondary investment objective is to enhance portfolio value. The Fund invests in tax obligation/limited, utilities, health care, tax obligation/general, and water and sewer. The advisor of the Fund is Nuveen Fund Advisors, Inc. Nuveen Fund Advisors, Inc. is a wholly owned subsidiary of Nuveen Investments, Inc. (Nuveen).