Nuveen Sl Tfip (NYSE:NXP) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Unusually high trading volume: 607,925 shares traded mid-day (up 279% from 160,255), while the stock was down about 1.4% intraday, last at $14.0990 versus a $14.23 close.
• Monthly dividend announced: Nuveen will pay $0.0535 per share on May 1 to holders of record April 15 (ex-div date April 15), implying roughly a 4.6% annualized yield.
• The stock is trading below its 50-day ($14.35) and 200-day ($14.31) simple moving averages, and institutional investors hold about 16.17% of the shares.

Nuveen Sl Tfip (NYSE:NXP - ) shares saw an uptick in trading volume on Tuesday . 607,925 shares were traded during mid-day trading, an increase of 279% from the previous session's volume of 160,255 shares.The stock last traded at $14.0990 and had previously closed at $14.23.

Nuveen Sl Tfip Trading Down 1.4%

The stock's 50-day simple moving average is $14.35 and its 200 day simple moving average is $14.31.

Nuveen Sl Tfip Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be given a dividend of $0.0535 per share. The ex-dividend date is Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 4.6%.

Institutional Investors Weigh In On Nuveen Sl Tfip

A number of hedge funds have recently added to or reduced their stakes in NXP. Raymond James Financial Inc. lifted its stake in Nuveen Sl Tfip by 1.1% in the second quarter. Raymond James Financial Inc. now owns 256,934 shares of the financial services provider's stock valued at $3,610,000 after buying an additional 2,838 shares during the period. Bank of America Corp DE increased its stake in shares of Nuveen Sl Tfip by 1.2% in the 2nd quarter. Bank of America Corp DE now owns 446,821 shares of the financial services provider's stock valued at $6,278,000 after acquiring an additional 5,206 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Nuveen Sl Tfip in the 2nd quarter valued at $346,000. Osaic Holdings Inc. lifted its position in shares of Nuveen Sl Tfip by 63.6% during the 2nd quarter. Osaic Holdings Inc. now owns 51,882 shares of the financial services provider's stock valued at $729,000 after acquiring an additional 20,174 shares during the period. Finally, Farther Finance Advisors LLC bought a new position in Nuveen Sl Tfip during the third quarter worth $210,000. 16.17% of the stock is currently owned by institutional investors.

Nuveen Sl Tfip 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. It benchmarks the performance of its portfolio against the Standard & Poor's (S&P) National Municipal Bond Index and Lipper General and Insured Unleveraged Municipal Debt Funds Average.

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