Short Interest in Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) Increases By 55.8%

The Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) experienced a notable increase in short interest during October. As of October 15th, the short interest reached a total of 33,500 shares, marking a significant rise of 55.8% compared to the 21,500 shares reported on September 30th. Given an average daily trading volume of 83,400 shares, the days-to-cover ratio is now at 0.4 days.

Nuveen Select Tax-Free Income Portfolio Stock Price Update

On Friday, the stock of Nuveen Select Tax-Free Income Portfolio saw a slight uptick of 0.1%, gaining $0.02 and reaching $14.87 during trading hours. The trading volume for the day was 62,655 shares, which is lower than its average trading volume of 78,488. The stock has fluctuated within a fifty-two week range, marking a low of $13.00 and a high of $15.25. As for moving averages, the fifty-day moving average stands at $14.99, while the 200-day moving average is $14.60.

Dividend Announcement

The company made a recent announcement regarding a monthly dividend, which is scheduled to be paid on Friday, November 1st. Investors who were on record as of Tuesday, October 15th, will receive a dividend payment of $0.052 per share. This places the annualized dividend at $0.62, translating to a dividend yield of 4.20%.

Institutional Investment Activities

Recent trading activity indicates that several hedge funds have either bought or sold shares in Nuveen Select Tax-Free Income Portfolio. Hennion & Walsh Asset Management Inc. increased its holdings by 27.9% during the third quarter, now possessing 658,181 shares valued at $9,945,000 after acquiring an additional 143,447 shares. Additionally, International Assets Investment Management LLC boosted its stake by an extraordinary 1,422.3%, now owning 81,258 shares worth $1,228,000 after an increase of 75,920 shares. Other notable changes include Sanctuary Advisors LLC establishing a new position valued at $161,000 and Truist Financial Corp growing its stake by 4.9% to own 58,584 shares after adding 2,715 additional shares. Lastly, B. Riley Wealth Advisors Inc. also raised its investment by 101.4%, coming to own 21,497 shares valued at $313,000. Overall, institutional investors and hedge funds together hold 16.17% of the stock.

About Nuveen Select Tax-Free Income Portfolio

The Nuveen Select Tax-Free Income Portfolio is essentially a closed-ended fixed income mutual fund, established by Nuveen Investments Inc. This fund is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC, focusing its investments in the fixed income sector of the United States. It targets investment-grade municipal securities, specifically those rated Baa, BBB, or higher.

Nuveen, Stocks, Dividends