Short Interest in Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN) Increases By 542.9%

Nuveen New York Select Tax-Free Income Portfolio (NYSE:NXN) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 9,000 shares, an increase of 542.9% from the February 13th total of 1,400 shares. Based on an average trading volume of 16,200 shares, the short-interest ratio is currently 0.6 days. Approximately 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp increased its holdings in shares of Nuveen New York Select Tax-Free Income Portfolio by 41.5% during the 3rd quarter. Stifel Financial Corp now owns 21,883 shares of the company’s stock valued at $266,000 after purchasing an additional 6,421 shares in the last quarter. Breakwater Capital Group raised its position in shares of Nuveen New York Select Tax-Free Income Portfolio by 15.3% in the fourth quarter. Breakwater Capital Group now owns 41,133 shares of the company’s stock worth $467,000 after acquiring an additional 5,470 shares during the period. Wolverine Asset Management LLC grew its position in shares of Nuveen New York Select Tax-Free Income Portfolio by 27.3% during the 4th 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. Guggenheim Capital LLC grew its position in shares of Nuveen New York Select Tax-Free Income Portfolio by 13.3% during the 4th quarter. Guggenheim Capital LLC now owns 55,020 shares of the company’s stock valued at $624,000 after acquiring an additional 6,457 shares during the period. Finally, 1607 Capital Partners LLC increased its stake in shares of Nuveen New York Select Tax-Free Income Portfolio by 23.7% in the 4th quarter. 1607 Capital Partners LLC now owns 273,085 shares of the company’s stock valued at $3,100,000 after purchasing an additional 52,358 shares in the last quarter.

Nuveen New York Select Tax-Free Income Portfolio Stock Performance

Shares of NYSE NXN traded down $0.07 during trading hours on Thursday, hitting $11.69. 6,380 shares of the company traded hands, compared to its average volume of 11,940. The company’s 50 day moving average price is $11.69 and its 200 day moving average price is $11.83. Nuveen New York Select Tax-Free Income Portfolio has a 12 month low of $10.98 and a 12 month high of $12.40.

Nuveen New York Select Tax-Free Income Portfolio Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.042 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.31%.

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.