Short Interest in Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN) Drops By 15.8%

Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN - Get Free Report) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 8,000 shares, a decrease of 15.8% from the March 15th total of 9,500 shares. Currently, 0.1% of the company's stock are sold short. Based on an average daily volume of 11,700 shares, the days-to-cover ratio is presently 0.7 days.

Nuveen New York Select Tax-Free Income Portfolio Stock Performance

NXN traded up $0.03 on Friday, reaching $11.50. 2,158 shares of the company traded hands, compared to its average volume of 10,863. The stock's 50 day moving average price is $11.64 and its 200-day moving average price is $11.72. Nuveen New York Select Tax-Free Income Portfolio has a 52-week low of $10.98 and a 52-week high of $12.40.

Nuveen New York Select Tax-Free Income Portfolio Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.042 per share. The ex-dividend date is Tuesday, April 15th. This represents a $0.50 dividend on an annualized basis and a yield of 4.38%.

Institutional Investors Weigh In On Nuveen New York Select Tax-Free Income Portfolio

Hedge funds and other institutional investors have recently made changes to their positions in the company. 1607 Capital Partners LLC grew its holdings in Nuveen New York Select Tax-Free Income Portfolio by 23.7% during the fourth quarter. 1607 Capital Partners LLC now owns 273,085 shares of the company's stock valued at $3,100,000 after purchasing an additional 52,358 shares during the last quarter. Guggenheim Capital LLC boosted its position in Nuveen New York Select Tax-Free Income Portfolio by 13.3% in the fourth quarter. Guggenheim Capital LLC now owns 55,020 shares of the company's stock valued at $624,000 after buying an additional 6,457 shares in the last quarter. Wolverine Asset Management LLC grew its stake in Nuveen New York Select Tax-Free Income Portfolio by 27.3% during the fourth quarter. Wolverine Asset Management LLC now owns 45,983 shares of the company's stock worth $522,000 after buying an additional 9,850 shares during the last quarter. Breakwater Capital Group increased its holdings in Nuveen New York Select Tax-Free Income Portfolio by 15.3% during the 4th quarter. Breakwater Capital Group now owns 41,133 shares of the company's stock valued at $467,000 after purchasing an additional 5,470 shares in the last quarter. Finally, Stifel Financial Corp raised its position in Nuveen New York Select Tax-Free Income Portfolio by 41.5% in the 3rd quarter. Stifel Financial Corp now owns 21,883 shares of the company's stock valued at $266,000 after purchasing an additional 6,421 shares during the last quarter.

Nuveen New York Select Tax-Free Income Portfolio Company Profile

Nuveen New York 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 New York. The fund invests in the securities of companies that operate across diversified sectors.