Nuveen Sl Tfip Plans Monthly Dividend of $0.05 (NYSE:NXP)

Key Points

• Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) declared a monthly dividend of $0.0535 per share, payable September 1 to shareholders of record August 14. The dividend represents an approximately 4.5% yield.
• NXP shares opened at $14.14, near the middle of their 52-week range of $13.88 to $14.65, with 50-day and 200-day moving averages both around $14.30.
• Institutional investors increased their holdings, including Osaic Holdings, which raised its position by 63.6%; institutions collectively own 16.17% of the fund.

Nuveen Sl Tfip (NYSE:NXP - Get Free Report) declared a monthly dividend on Monday, August 3rd. Investors of record on Friday, August 14th will be paid a dividend of 0.0535 per share by the financial services provider on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, August 14th.

Nuveen Sl Tfip Price Performance

Shares of NYSE NXP opened at $14.14 on Tuesday. Nuveen Sl Tfip has a 1 year low of $13.88 and a 1 year high of $14.65. The firm has a 50-day simple moving average of $14.30 and a two-hundred day simple moving average of $14.29.

Institutional Investors Weigh In On Nuveen Sl Tfip

A number of institutional investors and hedge funds have recently modified their holdings of NXP. Raymond James Financial Inc. grew its position in Nuveen Sl Tfip by 1.1% in the 2nd quarter. Raymond James Financial Inc. now owns 256,934 shares of the financial services provider's stock valued at $3,610,000 after acquiring an additional 2,838 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Nuveen Sl Tfip by 1.2% during the 2nd quarter. Bank of America Corp DE now owns 446,821 shares of the financial services provider's stock worth $6,278,000 after purchasing an additional 5,206 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Nuveen Sl Tfip during the 2nd quarter worth approximately $346,000. Osaic Holdings Inc. grew its holdings in Nuveen Sl Tfip by 63.6% in the second quarter. Osaic Holdings Inc. now owns 51,882 shares of the financial services provider's stock worth $729,000 after purchasing an additional 20,174 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Nuveen Sl Tfip by 20.8% in the 3rd quarter. Van ECK Associates Corp now owns 223,358 shares of the financial services provider's stock worth $3,230,000 after purchasing an additional 38,452 shares in the last quarter. 16.17% of the stock is owned by institutional investors.

About Nuveen Sl Tfip

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.