Nuveen Sl Tfip (NYSE:NXP) Sees Large Growth in Short Interest

Key Points

• Short interest surged 370.9% in September to 151,135 shares, representing 0.2% of NXP’s outstanding shares and 0.4 days of average trading volume.
• Institutional investors own 16.17% of Nuveen Select Tax-Free Income Portfolio, with several firms initiating or increasing positions during the second quarter.
• NXP shares rose 1.0% to $13.15, while the fund declared a monthly dividend of $0.0535, equivalent to an annualized $0.64 payout and a 4.9% yield.

Nuveen Sl Tfip (NYSE:NXP - Get Free Report) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 151,135 shares, a growth of 370.9% from the September 15th total of 32,092 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 404,475 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On Nuveen Sl Tfip

A number of hedge funds have recently made changes to their positions in NXP. Envestnet Asset Management Inc. bought a new position in Nuveen Sl Tfip in the 2nd quarter worth approximately $179,000. Baird Financial Group Inc. boosted its position in Nuveen Sl Tfip by 40.4% during the 2nd quarter. Baird Financial Group Inc. now owns 17,831 shares of the financial services provider's stock worth $255,000 after acquiring an additional 5,131 shares during the period. Readystate Asset Management LP acquired a new position in Nuveen Sl Tfip during the 2nd quarter worth $324,000. Ameritas Advisory Services LLC bought a new position in shares of Nuveen Sl Tfip in the second quarter worth $45,000. Finally, Wedbush Securities Inc. grew its stake in shares of Nuveen Sl Tfip by 11.1% in the second quarter. Wedbush Securities Inc. now owns 43,382 shares of the financial services provider's stock worth $621,000 after purchasing an additional 4,350 shares in the last quarter. Institutional investors own 16.17% of the company's stock.

Nuveen Sl Tfip Stock Up 1.0%

Shares of NXP stock traded up $0.13 during trading hours on Friday, reaching $13.15. The stock had a trading volume of 317,955 shares, compared to its average volume of 371,460. The firm has a 50-day simple moving average of $13.81 and a 200-day simple moving average of $14.11. Nuveen Sl Tfip has a twelve month low of $12.87 and a twelve month high of $14.65.

Nuveen Sl Tfip Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 15th will be paid a $0.0535 dividend. The ex-dividend date is Thursday, October 15th. This represents a $0.64 annualized dividend and a dividend yield of 4.9%.

Nuveen Sl Tfip Company Profile

Nuveen Select Tax-Free Income Portfolio NYSE: NXP is a closed-end investment company managed by Nuveen, an asset manager specializing in investment solutions. The fund seeks to provide current income that is exempt from regular federal income tax while also managing the risks associated with investing in municipal securities.

The portfolio invests primarily in tax-exempt municipal bonds issued by states, cities, counties, public authorities and other governmental entities in the United States.

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