Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) Sets New 12-Month Low – Here’s Why

Nuveen Select Tax-Free Income Portfolio (NYSE:NXP)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $13.71 and last traded at $13.91, with a volume of 84731 shares. The stock had previously closed at $13.96.

Nuveen Select Tax-Free Income Portfolio Stock Performance

The business has a 50 day moving average of $14.59 and a 200 day moving average of $14.75.

Nuveen Select Tax-Free Income Portfolio Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a dividend of $0.052 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $0.62 dividend on an annualized basis and a yield of 4.57%.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in shares of Nuveen Select Tax-Free Income Portfolio in the 4th quarter valued at about $4,547,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Nuveen Select Tax-Free Income Portfolio by 45.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 956,400 shares of the financial services provider’s stock worth $14,489,000 after buying an additional 298,219 shares during the period. Hirtle Callaghan & Co LLC bought a new position in shares of Nuveen Select Tax-Free Income Portfolio during the fourth quarter worth approximately $958,000. Guggenheim Capital LLC lifted its holdings in Nuveen Select Tax-Free Income Portfolio by 12.6% during the 4th quarter. Guggenheim Capital LLC now owns 527,231 shares of the financial services provider’s stock worth $7,988,000 after purchasing an additional 59,204 shares during the last quarter. Finally, Broyhill Asset Management bought a new stake in shares of Nuveen Select Tax-Free Income Portfolio in the fourth quarter valued at about $800,000. 16.17% of the stock is currently owned by institutional investors and hedge funds.

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.