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

Key Points

• Nuveen New York Select Tax-Free Income Portfolio (NASDAQ:NXN) experienced a significant increase in short interest, rising by 58.3% in September to a total of 16,300 shares.
• The firm recently announced a monthly dividend of $0.042 per share, with an ex-dividend date of October 15th, reflecting an annualized yield of 4.2%.
• Institutional investors are actively adjusting their positions in NXN, with OMNI 360 Wealth Inc. and Guggenheim Capital LLC increasing their stakes by 13.3% and 20.1% respectively during the 2nd quarter.

Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN - ) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 16,300 shares, an increase of 58.3% from the September 15th total of 10,300 shares. Based on an average daily trading volume, of 11,100 shares, the days-to-cover ratio is currently 1.5 days. Based on an average daily trading volume, of 11,100 shares, the days-to-cover ratio is currently 1.5 days.

Nuveen New York Select Tax-Free Income Portfolio Price Performance

Shares of NYSE NXN traded down $0.04 during midday trading on Wednesday, reaching $11.92. 27,645 shares of the stock were exchanged, compared to its average volume of 10,935. Nuveen New York Select Tax-Free Income Portfolio has a twelve month low of $10.98 and a twelve month high of $12.20. The firm has a 50-day simple moving average of $11.89 and a two-hundred day simple moving average of $11.64.

Nuveen New York Select Tax-Free Income Portfolio Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 15th will be paid a $0.042 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 4.2%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NXN. OMNI 360 Wealth Inc. boosted its position in shares of Nuveen New York Select Tax-Free Income Portfolio by 13.3% during the 2nd quarter. OMNI 360 Wealth Inc. now owns 17,000 shares of the company's stock valued at $198,000 after acquiring an additional 2,000 shares during the last quarter. Guggenheim Capital LLC boosted its position in shares of Nuveen New York Select Tax-Free Income Portfolio by 20.1% during the 2nd quarter. Guggenheim Capital LLC now owns 76,674 shares of the company's stock valued at $892,000 after acquiring an additional 12,839 shares during the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Nuveen New York Select Tax-Free Income Portfolio during the 1st quarter valued at about $230,000.

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.

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