Nuveen California Select Tax-Free Income Portfolio (NYSE:NXC) Sees Large Growth in Short Interest

Nuveen California Select Tax-Free Income Portfolio (NYSE:NXC) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 13,800 shares, a growth of 64.3% from the February 28th total of 8,400 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 22,100 shares, the short-interest ratio is presently 0.6 days.

Nuveen California Select Tax-Free Income Portfolio Stock Performance

Shares of NYSE:NXC remained flat at $13.10 during midday trading on Monday. The company had a trading volume of 2,678 shares, compared to its average volume of 18,211. Nuveen California Select Tax-Free Income Portfolio has a 12-month low of $12.75 and a 12-month high of $14.18. The firm’s fifty day moving average is $13.10 and its 200-day moving average is $13.37.

Nuveen California Select Tax-Free Income Portfolio Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.0455 per share. The ex-dividend date of this dividend is Friday, March 14th.

Institutional Investors Weigh In On Nuveen California Select Tax-Free Income Portfolio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wolverine Asset Management LLC acquired a new position in Nuveen California Select Tax-Free Income Portfolio in the 4th quarter valued at about $92,000. Caprock Group LLC acquired a new position in shares of Nuveen California Select Tax-Free Income Portfolio in the 4th quarter valued at $146,000. Wedbush Securities Inc. purchased a new position in shares of Nuveen California Select Tax-Free Income Portfolio during the 4th quarter worth $198,000. Raymond James Financial Inc. acquired a new stake in shares of Nuveen California Select Tax-Free Income Portfolio during the 4th quarter worth about $275,000. Finally, Ameriprise Financial Inc. raised its holdings in Nuveen California Select Tax-Free Income Portfolio by 13.9% in the 4th quarter. Ameriprise Financial Inc. now owns 65,005 shares of the company’s stock valued at $841,000 after buying an additional 7,919 shares during the period. 11.89% of the stock is currently owned by institutional investors and hedge funds.

Nuveen California Select Tax-Free Income Portfolio Company Profile

Nuveen California 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 California. The fund invests in the securities of companies that operate across diversified sectors.