Short Interest in Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) Increases By 24.6%

Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 29,900 shares, an increase of 24.6% from the July 31st total of 24,000 shares. Based on an average trading volume of 84,500 shares, the days-to-cover ratio is presently 0.4 days.

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

A number of large investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. grew its position in shares of Nuveen Select Tax-Free Income Portfolio by 10.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 545,804 shares of the financial services provider’s stock worth $7,881,000 after buying an additional 50,727 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Nuveen Select Tax-Free Income Portfolio by 0.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 510,922 shares of the financial services provider’s stock worth $7,378,000 after buying an additional 2,088 shares during the last quarter. Stephens Inc. AR grew its position in shares of 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 worth $7,038,000 after buying an additional 12,300 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Nuveen Select Tax-Free Income Portfolio by 15.3% in the 4th quarter. Van ECK Associates Corp now owns 257,980 shares of the financial services provider’s stock worth $3,813,000 after buying an additional 34,173 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Nuveen Select Tax-Free Income Portfolio by 10.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 215,138 shares of the financial services provider’s stock worth $3,107,000 after buying an additional 19,733 shares during the last quarter. 16.17% of the stock is currently owned by institutional investors.

Nuveen Select Tax-Free Income Portfolio Stock Performance

NXP opened at $14.92 on Friday. The stock’s 50 day simple moving average is $14.67 and its 200 day simple moving average is $14.47. Nuveen Select Tax-Free Income Portfolio has a 1 year low of $12.91 and a 1 year high of $15.25.

Nuveen Select Tax-Free Income Portfolio Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a dividend of $0.052 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.62 annualized dividend and a yield of 4.18%.

About Nuveen Select Tax-Free Income Portfolio

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.