Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) Stock Passes Above 50 Day Moving Average - Here's Why

Nuveen Select Tax-Free Income Portfolio (NYSE:NXP - Get Free Report)'s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $14.06 and traded as high as $14.09. Nuveen Select Tax-Free Income Portfolio shares last traded at $14.03, with a volume of 56,347 shares trading hands.

Nuveen Select Tax-Free Income Portfolio Trading Up 0.4%

The firm has a fifty day moving average price of $14.03 and a 200 day moving average price of $14.51.

Nuveen Select Tax-Free Income Portfolio Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a $0.052 dividend. This represents a $0.62 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Thursday, May 15th.

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

Hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new stake in shares of Nuveen Select Tax-Free Income Portfolio during the 4th quarter worth about $27,000. NBC Securities Inc. raised its stake in shares of Nuveen Select Tax-Free Income Portfolio by 199,400.0% during the 1st quarter. NBC Securities Inc. now owns 1,995 shares of the financial services provider's stock worth $28,000 after purchasing an additional 1,994 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Nuveen Select Tax-Free Income Portfolio during the 1st quarter worth about $37,000. Flagship Wealth Advisors LLC acquired a new position in shares of Nuveen Select Tax-Free Income Portfolio during the 4th quarter valued at about $47,000. Finally, Elequin Capital LP acquired a new position in shares of Nuveen Select Tax-Free Income Portfolio during the 1st quarter valued at about $84,000. 16.17% of the stock is owned by hedge funds and other institutional investors.

About Nuveen Select Tax-Free Income Portfolio

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.