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

Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 7,000 shares, a growth of 118.8% from the April 30th total of 3,200 shares. Approximately 0.1% of the company's stock are short sold. Based on an average trading volume of 11,000 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. 1607 Capital Partners LLC increased its position in shares of Nuveen New York Select Tax-Free Income Portfolio by 23.7% during the fourth quarter. 1607 Capital Partners LLC now owns 273,085 shares of the company's stock valued at $3,100,000 after acquiring an additional 52,358 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in Nuveen New York Select Tax-Free Income Portfolio by 27.3% during the 4th quarter. Wolverine Asset Management LLC now owns 45,983 shares of the company's stock valued at $522,000 after purchasing an additional 9,850 shares during the last quarter. Guggenheim Capital LLC increased its holdings in shares of Nuveen New York Select Tax-Free Income Portfolio by 13.3% in the 4th quarter. Guggenheim Capital LLC now owns 55,020 shares of the company's stock worth $624,000 after purchasing an additional 6,457 shares in the last quarter. Logan Stone Capital LLC purchased a new position in shares of Nuveen New York Select Tax-Free Income Portfolio in the fourth quarter worth $197,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Nuveen New York Select Tax-Free Income Portfolio in the first quarter worth $230,000.

Nuveen New York Select Tax-Free Income Portfolio Price Performance

Shares of NXN traded down $0.06 during trading hours on Tuesday, hitting $11.47. The company had a trading volume of 5,496 shares, compared to its average volume of 11,047. The firm has a fifty day moving average price of $11.54 and a 200-day moving average price of $11.64. Nuveen New York Select Tax-Free Income Portfolio has a 52-week low of $10.98 and a 52-week high of $12.40.

Nuveen New York Select Tax-Free Income Portfolio Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.042 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.50 dividend on an annualized basis and a yield of 4.39%.

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.