Nuveen Sl Tfip (NYSE:NXP) Sets New 12-Month Low – Time to Sell?

Nuveen Sl Tfip (NYSE:NXP) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $13.42 and last traded at $13.44, with a volume of 183361 shares traded. The stock had previously closed at $13.46.

Nuveen Sl Tfip Stock Down 0.1%

The business has a fifty day moving average of $14.15 and a 200 day moving average of $14.24.

Nuveen Sl Tfip Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a $0.0535 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 4.8%.

Institutional Investors Weigh In On Nuveen Sl Tfip

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Baird Financial Group Inc. raised its stake in shares of Nuveen Sl Tfip by 40.4% in the 2nd quarter. Baird Financial Group Inc. now owns 17,831 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 5,131 shares in the last quarter. Readystate Asset Management LP acquired a new position in Nuveen Sl Tfip in the second quarter worth about $324,000. Ameritas Advisory Services LLC acquired a new position in Nuveen Sl Tfip in the second quarter worth about $45,000. Wedbush Securities Inc. increased its holdings in Nuveen Sl Tfip by 11.1% in the second quarter. Wedbush Securities Inc. now owns 43,382 shares of the financial services provider’s stock valued at $621,000 after buying an additional 4,350 shares during the last quarter. Finally, Cascade Financial Partners LLC acquired a new stake in Nuveen Sl Tfip during the second quarter valued at approximately $902,000. Institutional investors own 16.17% of the company’s stock.

About Nuveen Sl Tfip

Nuveen Select Tax-Free Income Portfolio is a closed-end management investment company listed on the New York Stock Exchange under the symbol NXP. The fund seeks to provide current income that is exempt from regular federal income tax, while also pursuing long-term preservation of capital.

The portfolio invests primarily in municipal securities issued by state and local governments, public authorities and other governmental entities throughout the United States. These securities may help finance public infrastructure and services, including schools, transportation systems, utilities, hospitals and housing projects.