Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN) Shares Up 0.1% – Should You Buy?

Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN)’s share price traded up 0.1% on Tuesday . The stock traded as high as $12.15 and last traded at $12.14. 45,206 shares changed hands during mid-day trading, an increase of 396% from the average session volume of 9,118 shares. The stock had previously closed at $12.13.

Nuveen New York Select Tax-Free Income Portfolio Stock Performance

The company has a 50 day simple moving average of $12.09 and a 200-day simple moving average of $11.84.

Nuveen New York Select Tax-Free Income Portfolio Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.042 per share. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Monday, December 15th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nuveen New York Select Tax-Free Income Portfolio stock. Guggenheim Capital LLC boosted its holdings in shares of Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN) by 20.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 76,674 shares of the company’s stock after acquiring an additional 12,839 shares during the quarter. Guggenheim Capital LLC owned approximately 1.21% of Nuveen New York Select Tax-Free Income Portfolio worth $892,000 at the end of the most recent reporting period.

About Nuveen New York Select Tax-Free Income Portfolio

Nuveen New York Select Tax-Free Income Portfolio is a closed-end management investment company trading on the New York Stock Exchange under the symbol NXN. Managed by Nuveen Fund Advisors, a subsidiary of TIAA, the fund’s primary objective is to provide current income that is exempt from federal regular income taxes and New York State personal income taxes. It pursues this goal by constructing a diversified portfolio of municipal securities issued by entities located within New York State.

The fund’s holdings may include general obligation bonds, revenue bonds, notes and variable rate demand obligations, allowing it to spread credit risk across multiple issuers and sectors.