Nuveen California Select Tax-Free Income Portfolio (NYSE:NXC) Stock Price Up 0.2% – Here’s Why

Nuveen California Select Tax-Free Income Portfolio (NYSE:NXC)’s share price rose 0.2% during mid-day trading on Thursday . The stock traded as high as $13.30 and last traded at $13.2940. Approximately 76,961 shares traded hands during trading, an increase of 153% from the average daily volume of 30,403 shares. The stock had previously closed at $13.27.

Nuveen California Select Tax-Free Income Portfolio Stock Up 0.2%

The stock’s fifty day moving average price is $13.24 and its 200 day moving average price is $13.08.

Nuveen California Select Tax-Free Income Portfolio Announces Dividend

The company also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $0.043 dividend. The ex-dividend date was Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 3.9%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wolverine Asset Management LLC bought a new stake in shares of Nuveen California Select Tax-Free Income Portfolio in the 4th quarter worth approximately $197,000. Farther Finance Advisors LLC bought a new position in shares of Nuveen California Select Tax-Free Income Portfolio in the fourth quarter worth approximately $27,000. Stratos Wealth Partners LTD. bought a new stake in Nuveen California Select Tax-Free Income Portfolio during the 4th quarter valued at $376,000. Hennion & Walsh Asset Management Inc. boosted its position in Nuveen California Select Tax-Free Income Portfolio by 4.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 39,975 shares of the company’s stock valued at $528,000 after buying an additional 1,720 shares during the period. Finally, Equitable Holdings Inc. bought a new stake in Nuveen California Select Tax-Free Income Portfolio in the 3rd quarter worth $165,000. 11.89% of the stock is currently owned by institutional investors.

About Nuveen California Select Tax-Free Income Portfolio

Nuveen California Select Tax-Free Income Portfolio (NYSE: NXC) is a closed-end management investment company that seeks to provide investors with a high level of current income exempt from federal regular and California personal income taxes. The fund primarily invests in municipal securities issued by the state of California and its political subdivisions, including general obligation bonds, revenue bonds and other public financings. By focusing on California‐issued tax-exempt obligations, the portfolio aims to deliver a tax‐advantaged yield profile for individual and institutional shareholders with exposure to the state’s credit quality.

The portfolio’s investment strategy emphasizes a diversified mix of investment-grade and below investment-grade municipal securities across various sectors such as transportation, utilities, healthcare and education.