Significant Increase in Short Interest for Nuveen Select Tax-Free Income Portfolio

Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) experienced a notable rise in short interest during October. As of October 15, the short interest reached a total of 33,500 shares, reflecting a substantial increase of 55.8% from the 21,500 shares reported on September 30. With an average daily trading volume of 83,400 shares, the current days-to-cover ratio stands at 0.4 days.

Minor Stock Price Change

On trading day of Friday, Nuveen Select Tax-Free Income Portfolio saw its stock price increase by 0.1%, gaining $0.02 to reach $14.87. The trading volume for the day registered at 62,655 shares, which is lower than the average volume of 78,488 shares. Over the past year, the stock's lowest point was $13.00, while the highest was $15.25. The fifty-day moving average price of the stock is $14.99, and its 200-day moving average is $14.60.

Upcoming Dividend Payment

The company recently announced a monthly dividend payout scheduled for November 1. Shareholders on record as of October 15 will receive a dividend of $0.052 per share, with the ex-dividend date also set for October 15. This equates to an annualized dividend of $0.62 and a yield of 4.20%.

Changes in Institutional Holdings

In recent periods, several hedge funds have adjusted their positions in Nuveen Select Tax-Free Income Portfolio. Hennion & Walsh Asset Management Inc. increased its stake by 27.9% in the third quarter, bringing its total to 658,181 shares valued at approximately $9,945,000 after adding 143,447 shares. Similarly, International Assets Investment Management LLC raised its stake by an impressive 1,422.3% in the same quarter, acquiring an additional 75,920 shares to hold 81,258 shares valued at $1,228,000. Sanctuary Advisors LLC also purchased a new stake worth around $161,000 in the second quarter. In that quarter, Truist Financial Corp lifted its holdings by 4.9%, now owning 58,584 shares valued at $849,000 after adding 2,715 shares. Additionally, B. Riley Wealth Advisors Inc. increased its stake dramatically by 101.4%, bringing its total to 21,497 shares valued at $313,000 after acquiring 10,824 shares. Currently, institutional investors and hedge funds own 16.17% of the stock.

Company Overview

Nuveen Select Tax-Free Income Portfolio is a closed-ended fixed income mutual fund, managed by Nuveen Investments Inc., and co-managed by Nuveen Fund Advisors LLC and Nuveen Asset Management, LLC. The fund targets fixed income markets within the United States, specifically investing in investment-grade municipal securities rated Baa and BBB or better.

investment, stocks, dividend