Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) Sees Strong Trading Volume After Dividend Announcement

Shares of Nuveen Select Tax-Free Income Portfolio (NYSE:NXP) saw unusually-high trading volume on Monday after the company announced a dividend. Approximately 26,838 shares were traded during 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 issued a $0.052 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Monday, July 15th.

Nuveen Select Tax-Free Income Portfolio Stock Down 0.5 %

The business’s fifty day moving average is $14.28 and its 200-day moving average is $14.45.

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

A number of institutional investors and 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 10.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 545,804 shares of the financial services provider’s stock worth $7,881,000 after acquiring an additional 50,727 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Nuveen Select Tax-Free Income Portfolio by 0.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 510,922 shares of the financial services provider’s stock worth $7,378,000 after acquiring an additional 2,088 shares during the period. Stephens Inc. AR raised its stake in Nuveen Select Tax-Free Income Portfolio by 2.7% during the 4th quarter. Stephens Inc. AR now owns 476,194 shares of the financial services provider’s stock worth $7,038,000 after acquiring an additional 12,300 shares during the period. Advisors Asset Management Inc. raised its stake in Nuveen Select Tax-Free Income Portfolio by 10.1% during 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 during the period. Finally, Van ECK Associates Corp raised its stake in Nuveen Select Tax-Free Income Portfolio by 15.3% during the 4th quarter. Van ECK Associates Corp now owns 257,980 shares of the financial services provider’s stock worth $3,813,000 after acquiring an additional 34,173 shares during the period. 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.