Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN) Sees Significant Decline in Short Interest

Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN - Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 8,000 shares, a drop of 15.8% from the March 15th total of 9,500 shares. Currently, 0.1% of the company's stock are short sold. Based on an average daily volume of 11,700 shares, the days-to-cover ratio is presently 0.7 days.

Nuveen New York Select Tax-Free Income Portfolio Price Performance

Shares of NYSE:NXN remained flat at $11.47 during trading on Friday. 530 shares of the company's stock were exchanged, compared to its average volume of 10,829. The company has a fifty day simple moving average of $11.64 and a two-hundred day simple moving average of $11.72. Nuveen New York Select Tax-Free Income Portfolio has a 52 week low of $10.98 and a 52 week high of $12.40.

Nuveen New York Select Tax-Free Income Portfolio Dividend Announcement

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 $0.042 per share. The ex-dividend date is Tuesday, April 15th. This represents a $0.50 annualized dividend and a yield of 4.39%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC bought a new position in Nuveen New York Select Tax-Free Income Portfolio during the first quarter worth $107,000. Logan Stone Capital LLC acquired a new position in shares of Nuveen New York Select Tax-Free Income Portfolio in the fourth quarter valued at $197,000. Stifel Financial Corp lifted its position in Nuveen New York Select Tax-Free Income Portfolio by 41.5% in the third quarter. Stifel Financial Corp now owns 21,883 shares of the company's stock worth $266,000 after purchasing an additional 6,421 shares during the period. Breakwater Capital Group increased its holdings in Nuveen New York Select Tax-Free Income Portfolio by 15.3% in the 4th quarter. Breakwater Capital Group now owns 41,133 shares of the company's stock valued at $467,000 after buying an additional 5,470 shares during the period. Finally, Wolverine Asset Management LLC increased its stake in Nuveen New York Select Tax-Free Income Portfolio by 27.3% in the fourth quarter. Wolverine Asset Management LLC now owns 45,983 shares of the company's stock valued at $522,000 after acquiring an additional 9,850 shares during the period.

Nuveen New York Select Tax-Free Income Portfolio Company Profile

Nuveen New York 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 New York. The fund invests in the securities of companies that operate across diversified sectors.