Insider Buying: Nuveen Sl Tfip (NYSE:NXP) Insider Purchases $300,451.20 in Stock

Key Points

• Insider purchase: Young Robert bought 22,848 NXP shares at an average price of $13.15, investing approximately $300,451 and becoming the direct owner of those shares.
• Market performance: Nuveen Select Tax-Free Income Portfolio shares rose 0.6% to $13.31, trading between a 52-week range of $12.87 and $14.59.
• Dividend: The fund declared a monthly dividend of $0.0535 per share, equivalent to an annualized $0.64 payout and a 4.8% yield.

Nuveen Sl Tfip (NYSE:NXP - Get Free Report) insider Young Robert purchased 22,848 shares of the stock in a transaction on Friday, October 23rd. The shares were bought at an average cost of $13.15 per share, for a total transaction of $300,451.20. Following the transaction, the insider directly owned 22,848 shares in the company, valued at approximately $300,451.20. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nuveen Sl Tfip Trading Up 0.6%

Shares of Nuveen Sl Tfip stock traded up $0.08 on Tuesday, reaching $13.31. 320,608 shares of the company were exchanged, compared to its average volume of 185,583. Nuveen Sl Tfip has a one year low of $12.87 and a one year high of $14.59. The company has a 50-day moving average of $13.59 and a 200 day moving average of $14.11.

Nuveen Sl Tfip Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be given a dividend of $0.0535 per share. This represents a $0.64 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Thursday, October 15th.

Institutional Trading of Nuveen Sl Tfip

A number of large investors have recently added to or reduced their stakes in NXP. Bank of America Corp DE increased its stake in shares of Nuveen Sl Tfip by 19.5% during the 1st quarter. Bank of America Corp DE now owns 542,458 shares of the financial services provider's stock worth $7,784,000 after purchasing an additional 88,528 shares during the last quarter. Royal Bank of Canada lifted its stake in Nuveen Sl Tfip by 46.0% in the 1st quarter. Royal Bank of Canada now owns 147,201 shares of the financial services provider's stock valued at $2,112,000 after purchasing an additional 46,394 shares during the last quarter. Stephens Inc. AR lifted its stake in Nuveen Sl Tfip by 15.6% in the 1st quarter. Stephens Inc. AR now owns 666,432 shares of the financial services provider's stock valued at $9,563,000 after purchasing an additional 90,129 shares during the last quarter. Cascade Financial Partners LLC bought a new position in Nuveen Sl Tfip during the second quarter worth about $902,000. Finally, Wedbush Securities Inc. grew its holdings in Nuveen Sl Tfip by 11.1% during the second quarter. Wedbush Securities Inc. now owns 43,382 shares of the financial services provider's stock worth $621,000 after purchasing an additional 4,350 shares during the period. Institutional investors and hedge funds own 16.17% of the company's stock.

Nuveen Sl Tfip Company Profile

Nuveen Select Tax-Free Income Portfolio NYSE: NXP is a closed-end investment company managed by Nuveen, the investment management business of TIAA. The portfolio seeks to provide current income that is exempt from regular federal income tax.

The fund invests primarily in municipal securities issued by states, cities, and other governmental entities in the United States. Its holdings may include a range of tax-exempt bonds, including securities with varying maturities, credit qualities, and structures.

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