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

Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 18,700 shares, a decrease of 14.6% from the September 30th total of 21,900 shares. Based on an average daily trading volume, of 8,300 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Trading of Nuveen New York Select Tax-Free Income Portfolio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. boosted its stake in Nuveen New York Select Tax-Free Income Portfolio by 4.9% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 34,693 shares of the company’s stock worth $404,000 after buying an additional 1,623 shares in the last quarter. Wolverine Asset Management LLC lifted its stake in Nuveen New York Select Tax-Free Income Portfolio by 6.0% in the second quarter. Wolverine Asset Management LLC now owns 50,556 shares of the company’s stock worth $592,000 after acquiring an additional 2,874 shares during the period. Opal Wealth Advisors LLC purchased a new stake in Nuveen New York Select Tax-Free Income Portfolio in the second quarter worth $106,000. OMNI 360 Wealth Inc. purchased a new stake in Nuveen New York Select Tax-Free Income Portfolio in the second quarter worth $146,000. Finally, Breakwater Capital Group lifted its stake in Nuveen New York Select Tax-Free Income Portfolio by 60.1% in the second quarter. Breakwater Capital Group now owns 38,194 shares of the company’s stock worth $447,000 after acquiring an additional 14,338 shares during the period.

Nuveen New York Select Tax-Free Income Portfolio Stock Up 0.8 %

NXN traded up $0.09 during midday trading on Wednesday, hitting $11.95. The stock had a trading volume of 14,326 shares, compared to its average volume of 8,340. The business has a fifty day moving average of $12.03 and a 200 day moving average of $11.82. Nuveen New York Select Tax-Free Income Portfolio has a 1 year low of $10.64 and a 1 year high of $12.40.

Nuveen New York Select Tax-Free Income Portfolio Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be paid a $0.042 dividend. This represents a $0.50 annualized dividend and a yield of 4.22%. The ex-dividend date is Tuesday, October 15th.

About Nuveen New York Select Tax-Free Income Portfolio

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.