Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) Sees Significant Decrease in Short Interest

Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 49,200 shares, a drop of 42.3% from the February 13th total of 85,300 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 91,600 shares, the short-interest ratio is currently 0.5 days.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of NXP. Icon Wealth Advisors LLC acquired a new stake in Nuveen Select Tax-Free Income Portfolio in the third quarter valued at $32,000. B. Riley Wealth Advisors Inc. lifted its holdings in Nuveen Select Tax-Free Income Portfolio by 70.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 36,543 shares of the financial services provider’s stock valued at $554,000 after acquiring an additional 15,046 shares during the period. AdvisorNet Financial Inc lifted its holdings in Nuveen Select Tax-Free Income Portfolio by 8.2% in the fourth quarter. AdvisorNet Financial Inc now owns 56,960 shares of the financial services provider’s stock valued at $863,000 after acquiring an additional 4,325 shares during the period. Breakwater Capital Group raised its stake in shares of Nuveen Select Tax-Free Income Portfolio by 5.2% during the 4th quarter. Breakwater Capital Group now owns 44,563 shares of the financial services provider’s stock worth $675,000 after buying an additional 2,200 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Nuveen Select Tax-Free Income Portfolio by 45.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 956,400 shares of the financial services provider’s stock worth $14,489,000 after buying an additional 298,219 shares during the last quarter. Institutional investors and hedge funds own 16.17% of the company’s stock.

Nuveen Select Tax-Free Income Portfolio Stock Performance

NYSE:NXP traded down $0.01 during midday trading on Friday, reaching $14.42. The stock had a trading volume of 108,631 shares, compared to its average volume of 84,598. The firm has a fifty day simple moving average of $14.76 and a two-hundred day simple moving average of $14.84. Nuveen Select Tax-Free Income Portfolio has a 12-month low of $13.79 and a 12-month high of $15.25.

Nuveen Select Tax-Free Income Portfolio Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.052 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Friday, March 14th.

About Nuveen Select Tax-Free Income Portfolio

Nuveen 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 United States. The fund invests in the investment-grade municipal securities rated Baa and BBB or better.