Short Interest in Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) Increases By 55.8%

The Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) experienced a notable increase in short interest throughout October. As of October 15th, short interest reached a total of 33,500 shares, representing a remarkable growth of 55.8% compared to the September 30th total of 21,500 shares. Given the average daily trading volume of 83,400 shares, the current days-to-cover ratio stands at 0.4 days.

Nuveen Select Tax-Free Income Portfolio Stock Performance

During trading on Friday, the Nuveen Select Tax-Free Income Portfolio stock slightly increased by 0.1%, rising by $0.02 to a price of $14.87. The trading volume for the day was 62,655 shares, which is lower than its average volume of 78,488 shares. Within the past year, the stock reached a low of $13.00 and a high of $15.25. The fifty-day moving average is currently at $14.99, while the 200-day moving average is $14.60.

Dividend Announcement from Nuveen Select Tax-Free Income Portfolio

The company recently announced a monthly dividend of $0.052 per share, which will be paid on Friday, November 1st. Shareholders who were on record as of Tuesday, October 15th, will be eligible for the dividend. The ex-dividend date was also set for Tuesday, October 15th. This payment reflects an annualized dividend of $0.62 and corresponds to a dividend yield of 4.20%.

Changes in Institutional Holdings

Several hedge funds have adjusted their positions in Nuveen Select Tax-Free Income Portfolio recently. Hennion & Walsh Asset Management Inc. increased its stake by 27.9% during the 3rd quarter, now holding 658,181 shares valued at approximately $9,945,000 after acquiring an additional 143,447 shares. International Assets Investment Management LLC also made significant moves, boosting its stake by 1,422.3% during the same period, bringing its holdings to 81,258 shares worth about $1,228,000 following the purchase of an additional 75,920 shares. Sanctuary Advisors LLC entered a new investment during the 2nd quarter valued at around $161,000. Furthermore, Truist Financial Corp and B. Riley Wealth Advisors Inc. raised their stakes by 4.9% and 101.4%, respectively, indicating a keen interest from institutional investors, with 16.17% of the stock now owned by such entities.

About Nuveen Select Tax-Free Income Portfolio

Nuveen Select Tax-Free Income Portfolio is a closed-end fixed income mutual fund which was launched by Nuveen Investments Inc. It is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The fund focuses on the fixed income markets in the United States, investing primarily in investment-grade municipal securities rated Baa or BBB and above.

Nuveen, Stocks, Income