Short Interest in Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) Drops By 21.1%

Nuveen Select Tax-Free Income Portfolio (NYSE:NXPGet Free Report) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totalling 25,400 shares, a drop of 21.1% from the April 30th total of 32,200 shares. Based on an average daily trading volume, of 78,800 shares, the short-interest ratio is currently 0.3 days.

Nuveen Select Tax-Free Income Portfolio Price Performance

Shares of NXP stock traded up $0.14 during trading hours on Friday, reaching $14.14. The company had a trading volume of 49,544 shares, compared to its average volume of 83,462. Nuveen Select Tax-Free Income Portfolio has a 12-month low of $12.91 and a 12-month high of $14.89. The stock has a fifty day moving average of $14.21 and a 200-day moving average of $14.42.

Nuveen Select Tax-Free Income Portfolio Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.0485 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.58 annualized dividend and a dividend yield of 4.12%.

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

A number of hedge funds have recently modified their holdings of NXP. UBS Group AG boosted its holdings in Nuveen Select Tax-Free Income Portfolio by 6.5% in the 3rd quarter. UBS Group AG now owns 1,579,000 shares of the financial services provider’s stock valued at $21,001,000 after purchasing an additional 96,024 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Nuveen Select Tax-Free Income Portfolio by 10.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 545,804 shares of the financial services provider’s stock valued at $7,881,000 after acquiring an additional 50,727 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Nuveen Select Tax-Free Income Portfolio by 0.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 510,922 shares of the financial services provider’s stock valued at $7,378,000 after acquiring an additional 2,088 shares during the period. Stephens Inc. AR raised its position in Nuveen Select Tax-Free Income Portfolio by 2.7% in the 4th quarter. Stephens Inc. AR now owns 476,194 shares of the financial services provider’s stock valued at $7,038,000 after purchasing an additional 12,300 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Nuveen Select Tax-Free Income Portfolio by 10.1% in the third quarter. Advisors Asset Management Inc. now owns 354,909 shares of the financial services provider’s stock valued at $4,720,000 after buying an additional 32,460 shares in the last quarter. Hedge funds and other institutional investors own 16.17% of the company’s stock.

About Nuveen Select Tax-Free Income Portfolio

(Get Free Report)

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.

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