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

Key Points

• Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN) experienced a 20.8% increase in short interest in August, with total short interest reaching 12,800 shares by August 31st.
• A dividend of $0.042 will be paid on October 1st to shareholders of record as of September 15th, yielding approximately 4.2% annually.
• Recent movements by institutional investors included a new stake acquisition by Opal Wealth Advisors and a 20.0% increase in stake by OMNI 360 Wealth Inc. during the first quarter.

Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN - Get Free Report) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 12,800 shares, an increase of 20.8% from the August 15th total of 10,600 shares. Based on an average daily trading volume, of 10,800 shares, the short-interest ratio is presently 1.2 days. Approximately 0.2% of the shares of the company are short sold. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 10,800 shares, the short-interest ratio is presently 1.2 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Atria Wealth Solutions Inc. bought a new stake in shares of Nuveen New York Select Tax-Free Income Portfolio during the 1st quarter valued at $230,000. Guggenheim Capital LLC lifted its stake in Nuveen New York Select Tax-Free Income Portfolio by 20.1% in the 2nd quarter. Guggenheim Capital LLC now owns 76,674 shares of the company's stock valued at $892,000 after purchasing an additional 12,839 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Nuveen New York Select Tax-Free Income Portfolio during the first quarter worth approximately $107,000. Finally, OMNI 360 Wealth Inc. increased its stake in Nuveen New York Select Tax-Free Income Portfolio by 20.0% in the first quarter. OMNI 360 Wealth Inc. now owns 15,000 shares of the company's stock valued at $177,000 after acquiring an additional 2,500 shares during the last quarter.

Nuveen New York Select Tax-Free Income Portfolio Stock Performance

Shares of Nuveen New York Select Tax-Free Income Portfolio stock traded down $0.02 during midday trading on Monday, hitting $12.01. The company's stock had a trading volume of 5,217 shares, compared to its average volume of 11,319. Nuveen New York Select Tax-Free Income Portfolio has a 1-year low of $10.98 and a 1-year high of $12.40. The stock has a 50-day simple moving average of $11.67 and a 200-day simple moving average of $11.60.

Nuveen New York Select Tax-Free Income Portfolio Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.042 per share. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, September 15th.

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.