Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN) Sees Large Drop in Short Interest

Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 18,700 shares, a decrease of 14.6% from the September 30th total of 21,900 shares. Based on an average daily volume of 8,300 shares, the days-to-cover ratio is presently 2.3 days.

Nuveen New York Select Tax-Free Income Portfolio Price Performance

NXN traded up $0.09 during trading on Wednesday, reaching $11.95. The stock had a trading volume of 14,326 shares, compared to its average volume of 8,340. The stock’s 50 day moving average is $12.03 and its two-hundred day moving average is $11.82. Nuveen New York Select Tax-Free Income Portfolio has a one year low of $10.64 and a one year high of $12.40.

Nuveen New York Select Tax-Free Income Portfolio Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be issued a $0.042 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.50 dividend on an annualized basis and a yield of 4.22%.

Hedge Funds Weigh In On Nuveen New York Select Tax-Free Income Portfolio

A number of institutional investors have recently added to or reduced their stakes in NXN. Wolverine Asset Management LLC increased its holdings in shares of Nuveen New York Select Tax-Free Income Portfolio by 6.0% during the second quarter. Wolverine Asset Management LLC now owns 50,556 shares of the company’s stock valued at $592,000 after acquiring an additional 2,874 shares in the last quarter. Breakwater Capital Group increased its holdings in shares of Nuveen New York Select Tax-Free Income Portfolio by 60.1% during the second quarter. Breakwater Capital Group now owns 38,194 shares of the company’s stock valued at $447,000 after acquiring an additional 14,338 shares in the last quarter. OMNI 360 Wealth Inc. bought a new position in shares of Nuveen New York Select Tax-Free Income Portfolio during the second quarter valued at $146,000. Opal Wealth Advisors LLC bought a new position in shares of Nuveen New York Select Tax-Free Income Portfolio during the second quarter valued at $106,000. Finally, Williams Jones Wealth Management LLC. bought a new position in shares of Nuveen New York Select Tax-Free Income Portfolio during the first quarter valued at $175,000.

About Nuveen New York Select Tax-Free Income Portfolio

Nuveen New York Select Tax-Free Income Portfolio is a closed-ended fixed income mutual fund launched by Nuveen Investments Inc The fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. It invests in the fixed income markets of New York. The fund invests in the securities of companies that operate across diversified sectors.