Nuveen California Select Tax-Free Income Portfolio (NYSE:NXC) Short Interest Down 87.1% in August

Nuveen California Select Tax-Free Income Portfolio (NYSE:NXC) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 400 shares, a decline of 87.1% from the August 15th total of 3,100 shares. Based on an average daily volume of 6,800 shares, the days-to-cover ratio is currently 0.1 days.

Shares of Nuveen California Select Tax-Free Income Portfolio stock remained flat at $$16.20 on Thursday. The stock had a trading volume of 5,386 shares, compared to its average volume of 6,562. Nuveen California Select Tax-Free Income Portfolio has a 12-month low of $15.54 and a 12-month high of $19.87. The firm’s 50-day simple moving average is $16.48 and its 200-day simple moving average is $16.42.

The firm also recently declared a dividend, which will be paid on Friday, October 1st. Investors of record on Wednesday, September 15th will be paid a dividend of $0.04 per share. This represents a dividend yield of 2.94%. The ex-dividend date of this dividend is Tuesday, September 14th.

Several hedge funds have recently modified their holdings of the stock. Morgan Stanley lifted its stake in shares of Nuveen California Select Tax-Free Income Portfolio by 36.9% during the 2nd quarter. Morgan Stanley now owns 138,925 shares of the company’s stock worth $2,342,000 after acquiring an additional 37,464 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Nuveen California Select Tax-Free Income Portfolio by 958.3% during the 2nd quarter. Royal Bank of Canada now owns 7,408 shares of the company’s stock worth $125,000 after acquiring an additional 6,708 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of Nuveen California Select Tax-Free Income Portfolio by 2.5% during the 1st quarter. UBS Group AG now owns 40,200 shares of the company’s stock worth $655,000 after acquiring an additional 999 shares during the last quarter. 6.66% of the stock is owned by hedge funds and other institutional investors.

Nuveen California Select Tax-Free Income Portfolio Company Profile

Nuveen California 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 California. The fund invests in the securities of companies that operate across diversified sectors.

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