Nuveen Massachusetts Premium Income Municipal Fund (the Fund) is a closed-ended investment company. The Fund seeks to provide current income exempt from both regular federal and designated state income taxes, and in the case of Insured Massachusetts Tax-Free Advantage (NGX) the alternative minimum tax applicable to individuals, by investing primarily in a portfolio of municipal obligations issued by state and local government authorities within a single state or certain of the United States territories. The Fund invests all of its assets in tax-exempt Massachusetts municipal obligations rated at the time of purchase within the four highest grades (Baa/BBB or better). It may invest up to 20% of its net assets in unrated Massachusetts municipal obligations. Nuveen Fund Advisors, Inc., formerly Nuveen Asset Management, is the Fund�s Adviser. Nuveen Asset Management, LLC is the sub-adviser of the Fund.