Nuveen California Select Tax-Free Income Portfolio (NYSE:NXC) Stock Price Up 0.2% – Time to Buy?

Nuveen California Select Tax-Free Income Portfolio (NYSE:NXC) was up 0.2% on Thursday . The stock traded as high as $13.30 and last traded at $13.2940. Approximately 76,961 shares were traded during trading, an increase of 153% from the average daily volume of 30,403 shares. The stock had previously closed at $13.27.

Nuveen California Select Tax-Free Income Portfolio Price Performance

The company has a 50 day moving average price of $13.23 and a 200 day moving average price of $13.08.

Nuveen California Select Tax-Free Income Portfolio Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a dividend of $0.043 per share. The ex-dividend date was Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 3.9%.

Hedge Funds Weigh In On Nuveen California Select Tax-Free Income Portfolio

A number of large investors have recently modified their holdings of the company. Wolverine Asset Management LLC bought a new stake in Nuveen California Select Tax-Free Income Portfolio during the 4th quarter valued at $197,000. Farther Finance Advisors LLC acquired a new position in shares of Nuveen California Select Tax-Free Income Portfolio during the fourth quarter valued at about $27,000. Stratos Wealth Partners LTD. bought a new stake in shares of Nuveen California Select Tax-Free Income Portfolio during the fourth quarter worth about $376,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Nuveen California Select Tax-Free Income Portfolio by 4.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 39,975 shares of the company’s stock worth $528,000 after acquiring an additional 1,720 shares during the last quarter. Finally, Equitable Holdings Inc. bought a new position in Nuveen California Select Tax-Free Income Portfolio in the 3rd quarter valued at about $165,000. 11.89% of the stock is currently owned by institutional investors.

About Nuveen California Select Tax-Free Income Portfolio

Nuveen California Select Tax-Free Income Portfolio (NYSE: NXC) is a closed-end management investment company that seeks to provide investors with a high level of current income exempt from federal regular and California personal income taxes. The fund primarily invests in municipal securities issued by the state of California and its political subdivisions, including general obligation bonds, revenue bonds and other public financings. By focusing on California‐issued tax-exempt obligations, the portfolio aims to deliver a tax‐advantaged yield profile for individual and institutional shareholders with exposure to the state’s credit quality.

The portfolio’s investment strategy emphasizes a diversified mix of investment-grade and below investment-grade municipal securities across various sectors such as transportation, utilities, healthcare and education.