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

Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN) saw a significant decline in short interest in June. As of June 15th, there was short interest totalling 9,500 shares, a decline of 20.8% from the May 31st total of 12,000 shares. Based on an average daily volume of 8,600 shares, the days-to-cover ratio is currently 1.1 days.

Nuveen New York Select Tax-Free Income Portfolio Trading Up 0.7 %

Shares of NYSE NXN traded up $0.08 during mid-day trading on Friday, hitting $11.70. 8,000 shares of the stock traded hands, compared to its average volume of 7,228. Nuveen New York Select Tax-Free Income Portfolio has a 52 week low of $10.64 and a 52 week high of $12.45. The stock has a fifty day moving average price of $11.70 and a 200-day moving average price of $11.72.

Nuveen New York Select Tax-Free Income Portfolio Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.041 per share. The ex-dividend date is Friday, June 14th. This represents a $0.49 annualized dividend and a dividend yield of 4.21%.

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

Hedge funds have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC bought a new stake in Nuveen New York Select Tax-Free Income Portfolio in the fourth quarter worth $182,000. Williams Jones Wealth Management LLC. bought a new stake in Nuveen New York Select Tax-Free Income Portfolio in the first quarter worth $175,000. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings 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 acquiring an additional 1,623 shares in the last quarter.

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.