Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) Sees Unusually-High Trading Volume Following Dividend Announcement

Shares of Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) saw an uptick in trading volume on Monday following a dividend announcement from the company. 26,838 shares were traded during mid-day trading, a decline of 64% from the previous session’s volume of 75,414 shares.The stock last traded at $14.48 and had previously closed at $14.49.

The newly announced dividend which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be paid a $0.052 dividend. The ex-dividend date is Monday, July 15th. This represents a $0.62 dividend on an annualized basis and a yield of 4.35%.

Nuveen Select Tax-Free Income Portfolio Stock Performance

The business’s 50 day simple moving average is $14.28 and its 200 day simple moving average is $14.45.

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

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Nuveen Select Tax-Free Income Portfolio by 1,392.5% during the 4th quarter. International Assets Investment Management LLC now owns 77,982 shares of the financial services provider’s stock valued at $1,153,000 after purchasing an additional 72,757 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Nuveen Select Tax-Free Income Portfolio by 10.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 545,804 shares of the financial services provider’s stock valued at $7,881,000 after buying an additional 50,727 shares in the last quarter. Van ECK Associates Corp raised its position in Nuveen Select Tax-Free Income Portfolio by 15.3% during the fourth quarter. Van ECK Associates Corp now owns 257,980 shares of the financial services provider’s stock valued at $3,813,000 after buying an additional 34,173 shares during the period. Advisors Asset Management Inc. lifted its stake in Nuveen Select Tax-Free Income Portfolio by 10.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 354,909 shares of the financial services provider’s stock worth $4,720,000 after acquiring an additional 32,460 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new stake in Nuveen Select Tax-Free Income Portfolio during the 4th quarter worth about $451,000. Hedge funds and other institutional investors own 16.17% of the company’s stock.

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.