Nuveen Sl Tfip (NYSE:NXP) Short Interest Up 165.9% in August

Key Points

• Short interest surged 165.9% in August to 89,055 shares, representing about 0.1% of NXP’s outstanding shares and 0.6 days of average trading volume.
• NXP shares opened at $13.76, near their 12-month low of $13.71, while the fund announced a monthly dividend of $0.0535 per share, implying a 4.7% annualized yield.
• Institutional investors own 16.17% of the fund; several hedge funds and wealth managers recently initiated or increased positions.

Nuveen Sl Tfip (NYSE:NXP - Get Free Report) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 89,055 shares, a growth of 165.9% from the August 15th total of 33,494 shares. Based on an average daily trading volume, of 140,939 shares, the short-interest ratio is presently 0.6 days. Approximately 0.1% of the shares of the stock are sold short.

Nuveen Sl Tfip Price Performance

Shares of NXP opened at $13.76 on Friday. Nuveen Sl Tfip has a 12-month low of $13.71 and a 12-month high of $14.65. The business's 50 day moving average is $14.23 and its 200 day moving average is $14.27.

Nuveen Sl Tfip Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a dividend of $0.0535 per share. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Trading of Nuveen Sl Tfip

Hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC acquired a new position in Nuveen Sl Tfip in the second quarter valued at approximately $45,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Nuveen Sl Tfip by 116.9% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,857 shares of the financial services provider's stock worth $56,000 after buying an additional 2,079 shares during the period. Advisory Services Network LLC purchased a new position in shares of Nuveen Sl Tfip in the third quarter valued at approximately $58,000. Bayban acquired a new position in shares of Nuveen Sl Tfip in the fourth quarter worth $62,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Nuveen Sl Tfip in the 4th quarter valued at about $73,000. 16.17% of the stock is currently owned by hedge funds and other institutional investors.

Nuveen Sl Tfip Company Profile

Nuveen Select Tax-Free Income Portfolio is a closed-end management investment company listed on the New York Stock Exchange under the symbol NXP. The fund seeks to provide current income that is exempt from regular federal income tax, while also pursuing long-term preservation of capital.

The portfolio invests primarily in municipal securities issued by state and local governments, public authorities and other governmental entities throughout the United States. These securities may help finance public infrastructure and services, including schools, transportation systems, utilities, hospitals and housing projects.

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