Short Interest in Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) Sees Sharp Increase

In October, the Nuveen Select Tax-Free Income Portfolio (NYSE:NXP - Get Free Report) experienced a significant rise in short interest. As reported on October 15th, the total short interest reached 33,500 shares, marking an increase of 55.8% from the previous total of 21,500 shares recorded on September 30th. With an average daily trading volume of 83,400 shares, the days-to-cover ratio currently stands at 0.4 days.

Nuveen Select Tax-Free Income Portfolio Stock Performance

On Friday, the stock of Nuveen Select Tax-Free Income Portfolio was noted to have risen by 0.1%, gaining $0.02 during trading hours to reach a price of $14.87. The trading volume for the day was 62,655 shares, which is slightly below its average volume of 78,488 shares. Over the past year, the stock has fluctuated, with a fifty-two week low of $13.00 and a high of $15.25. Currently, the stock’s fifty-day moving average is positioned at $14.99, while its 200-day moving average is at $14.60.

Dividend Information from Nuveen Select Tax-Free Income Portfolio

The company has also announced a monthly dividend, set to be paid on November 1st. Shareholders who are on record as of October 15th will receive a dividend of $0.052 per share. The ex-dividend date coincided with the record date on October 15th, leading to an annualized dividend of $0.62, which translates to a dividend yield of 4.20%.

Institutional Trading Trends

Recent trading activity suggests a variety of institutional investors have been adjusting their positions in Nuveen Select Tax-Free Income Portfolio. For instance, Hennion & Walsh Asset Management Inc. increased its stake by 27.9% during the third quarter, now owning 658,181 shares worth approximately $9,945,000 after acquiring an additional 143,447 shares. Similarly, International Assets Investment Management LLC raised its shares by an impressive 1,422.3%, now holding 81,258 shares valued at $1,228,000 following an acquisition of 75,920 shares. Other notable adjustments include Sanctuary Advisors LLC, which put investment into a new position valued at about $161,000, and Truist Financial Corp, which increased its stake by 4.9%, owning 58,584 shares worth $849,000 after gaining 2,715 shares more last quarter. Additionally, B. Riley Wealth Advisors Inc. raised its stake by 101.4%, now holding 21,497 shares valued at approximately $313,000 after purchasing an additional 10,824 shares. A total of 16.17% of the stock is held by institutional investors and hedge funds.

Nuveen Select Tax-Free Income Portfolio Overview

The Nuveen Select Tax-Free Income Portfolio is a closed-end fixed income mutual fund initiated by Nuveen Investments Inc. It is co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The focus of the fund is on the fixed-income markets within the United States, investing primarily in investment-grade municipal securities that are rated Baa and BBB or higher.

Nuveen, Stocks, ShortInterest