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

Nuveen Select Tax-Free Income Portfolio (NYSE:NXP - Get Free Report) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 66,100 shares, an increase of 63.6% from the April 30th total of 40,400 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 117,800 shares, the days-to-cover ratio is currently 0.6 days.

Nuveen Select Tax-Free Income Portfolio Price Performance

NXP stock traded down $0.04 during midday trading on Wednesday, reaching $13.98. The company had a trading volume of 76,797 shares, compared to its average volume of 93,837. The firm has a 50-day moving average price of $13.98 and a 200-day moving average price of $14.47. Nuveen Select Tax-Free Income Portfolio has a 1 year low of $13.30 and a 1 year high of $15.25.

Nuveen Select Tax-Free Income Portfolio Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.052 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.62 annualized dividend and a yield of 4.46%.

Institutional Investors Weigh In On Nuveen Select Tax-Free Income Portfolio

A number of large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its holdings in shares of Nuveen Select Tax-Free Income Portfolio by 22.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 161,594 shares of the financial services provider's stock worth $2,448,000 after purchasing an additional 29,161 shares in the last quarter. Jones Financial Companies Lllp grew its position in Nuveen Select Tax-Free Income Portfolio by 47.0% during the fourth quarter. Jones Financial Companies Lllp now owns 137,388 shares of the financial services provider's stock valued at $2,081,000 after acquiring an additional 43,948 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Nuveen Select Tax-Free Income Portfolio during the fourth quarter worth approximately $4,547,000. LPL Financial LLC lifted its holdings in shares of Nuveen Select Tax-Free Income Portfolio by 23.6% in the 4th quarter. LPL Financial LLC now owns 105,741 shares of the financial services provider's stock worth $1,602,000 after acquiring an additional 20,188 shares during the last quarter. Finally, Hirtle Callaghan & Co LLC purchased a new stake in shares of Nuveen Select Tax-Free Income Portfolio in the 4th quarter valued at $958,000. Hedge funds and other institutional investors own 16.17% of the company's stock.

Nuveen Select Tax-Free Income Portfolio Company Profile

Nuveen 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 United States. The fund invests in the investment-grade municipal securities rated Baa and BBB or better.