Nuveen Sl Tfip (NYSE:NXP) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Nuveen Sl Tfip’s trading volume surged 145% to approximately 391,482 shares, while the stock remained nearly unchanged at about $12.95.
• The fund declared a monthly dividend of $0.0535 per share, equivalent to roughly $0.64 annually and a 4.9% yield; the ex-dividend date is September 15.
• Institutional ownership stands at 16.17%, with several investors increasing their positions, including Royal Bank of Canada, which raised its stake by 46%.

Shares of Nuveen Sl Tfip (NYSE:NXP - Get Free Report) saw unusually-strong trading volume on Friday. Approximately 391,482 shares were traded during mid-day trading, an increase of 145% from the previous session's volume of 159,638 shares. The stock last traded at $12.9490 and had previously closed at $12.95.

Nuveen Sl Tfip Stock Performance

The stock has a 50-day simple moving average of $14.06 and a two-hundred day simple moving average of $14.21.

Nuveen Sl Tfip Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.0535 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On Nuveen Sl Tfip

Hedge funds have recently made changes to their positions in the business. Stephens Inc. AR raised its stake in Nuveen Sl Tfip by 15.6% during the 1st quarter. Stephens Inc. AR now owns 666,432 shares of the financial services provider's stock valued at $9,563,000 after purchasing an additional 90,129 shares during the period. Bank of America Corp DE grew its holdings in Nuveen Sl Tfip by 19.5% during the 1st quarter. Bank of America Corp DE now owns 542,458 shares of the financial services provider's stock valued at $7,784,000 after buying an additional 88,528 shares in the last quarter. Cascade Financial Partners LLC purchased a new stake in Nuveen Sl Tfip during the 2nd quarter valued at approximately $902,000. Royal Bank of Canada raised its position in shares of Nuveen Sl Tfip by 46.0% during the first quarter. Royal Bank of Canada now owns 147,201 shares of the financial services provider's stock valued at $2,112,000 after buying an additional 46,394 shares during the last quarter. Finally, Readystate Asset Management LP bought a new stake in shares of Nuveen Sl Tfip during the second quarter valued at approximately $324,000. 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-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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