Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) Sees Large Volume Increase – Here’s Why

Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) saw unusually-strong trading volume on Friday . Approximately 67,749 shares traded hands during mid-day trading, a decline of 27% from the previous session’s volume of 92,708 shares.The stock last traded at $14.13 and had previously closed at $14.17.

Nuveen Select Tax-Free Income Portfolio Stock Down 0.4%

The business’s 50 day moving average is $14.07 and its 200-day moving average is $14.53.

Nuveen Select Tax-Free Income Portfolio Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a $0.052 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.62 dividend on an annualized basis and a yield of 4.42%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Elequin Capital LP purchased a new position in Nuveen Select Tax-Free Income Portfolio in the first quarter worth approximately $84,000. HighTower Advisors LLC purchased a new stake in shares of Nuveen Select Tax-Free Income Portfolio during the 1st quarter worth approximately $174,000. Wolverine Asset Management LLC purchased a new stake in shares of Nuveen Select Tax-Free Income Portfolio during the 1st quarter worth approximately $179,000. Flagship Wealth Advisors LLC lifted its position in shares of Nuveen Select Tax-Free Income Portfolio by 120.0% during the 1st quarter. Flagship Wealth Advisors LLC now owns 6,875 shares of the financial services provider’s stock worth $99,000 after buying an additional 3,750 shares during the last quarter. Finally, ProVise Management Group LLC lifted its position in shares of Nuveen Select Tax-Free Income Portfolio by 3.7% during the 1st quarter. ProVise Management Group LLC now owns 25,210 shares of the financial services provider’s stock worth $362,000 after buying an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 16.17% of the company’s stock.

Nuveen Select Tax-Free Income Portfolio Company Profile

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.