Short Interest in Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) Drops By 18.9%

Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 59,400 shares, a drop of 18.9% from the January 15th total of 73,200 shares. Based on an average daily volume of 91,300 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. raised its stake in Nuveen Select Tax-Free Income Portfolio by 45.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 956,400 shares of the financial services provider’s stock worth $14,489,000 after acquiring an additional 298,219 shares in the last quarter. Guggenheim Capital LLC grew its holdings in shares of 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 valued at $7,988,000 after purchasing an additional 59,204 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Nuveen Select Tax-Free Income Portfolio during the 4th quarter worth approximately $4,547,000. Van ECK Associates Corp lifted its stake in Nuveen Select Tax-Free Income Portfolio by 2.4% in the 4th quarter. Van ECK Associates Corp now owns 207,378 shares of the financial services provider’s stock valued at $3,142,000 after purchasing an additional 4,815 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Nuveen Select Tax-Free Income Portfolio by 22.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 161,594 shares of the financial services provider’s stock valued at $2,448,000 after buying an additional 29,161 shares in the last quarter. 16.17% of the stock is owned by institutional investors.

Nuveen Select Tax-Free Income Portfolio Trading Down 0.4 %

Shares of NXP stock traded down $0.07 during trading on Friday, hitting $14.82. The company had a trading volume of 89,546 shares, compared to its average volume of 93,600. Nuveen Select Tax-Free Income Portfolio has a one year low of $13.79 and a one year high of $15.25. The stock’s 50-day moving average price is $14.85 and its 200 day moving average price is $14.87.

Nuveen Select Tax-Free Income Portfolio Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.052 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.62 annualized dividend and a yield of 4.21%.

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.